- Richard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024
Rumour is tonight the Bank of England will again cut official interest rates making them the lowest since 1951 and with the prospect of another 100 Bhps cut in January it would make them the lowest since 1694.
Bet the Old Lady of Threadneedle street never invisaged a rate as low as 1% all those years ago.TerrywParticipant@terrywJoin Date: 2001Post Count: 16,213hbbehrendorffMember@hbbehrendorffJoin Date: 2006Post Count: 293
1% interest and 20% inflation, Just what we need to fix our economyPosEnterprisesMember@posenterprisesJoin Date: 2006Post Count: 290
Keep cuttin them. I hope RBA keeps cutting them down also.Richard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024
English rates have fallen to their lowest level since 1939 as the Bank of England battles recession.
The BoE did overnight cut the official cash rate by 100 basis points and the cash rate now sits at just two per cent.
The BoE said business surveys suggested the country’s downturn had gathered pace and commented that consumer spending, business investment and residential investment had all continued to stall.
The British central bank already slashed the cash rate by 150 basis points last month, and has now made reductions totalling 375 basis points since December last year.