- Thursday, October 9, 2008, 17:23
- Interest Rates
The Bank of England cut interest rates yesterday for the first time since April. The committee voted to reduce the rate by half a per cent to 4.5%. Economists hope the rate cut will stimulate the housing market, ease global monetary conditions and inject some stability into the stock market.
A statement released by the BoE stated that:
"In the United Kingdom, CPI inflation rose to 4.7% ...
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