Bank Of England Drops Interest Rate To Lowest Since Its Founding In 1694
Financial Times:UK interest rates cut by half a point to 1%
The Bank of England’s monetary policy committee on Thursday cut its key interest rate by a widely-expected half a percentage point to 1 per cent.
In a statement accompanying the latest decision the Monetary Policy Committee warned there was “substantial risk” that despite significant economic and monetary stimulus, demand is so weak that inflation will undershoot the Bank’s 2 per cent target...
The latest reduction in interest rates brings the interest rate down from 5 per cent in September and follows a half a percentage point cut in December to the lowest level since the Bank of England was founded in 1694.
However, the MPC said ongoing risks to the wider economy required further cuts in policy with many economists viewing Thursday’s move as yet another step on an inexorable march towards zero interest rates...
The MPC pointed to the global nature of the current slowdown, describing the world’s economy as “in the throes of a severe an synchronised downturn” and noted that because of the weakness of the global banking and financial systems, the supply of credit to households and businesses remained constrained...
The Bank of England’s monetary policy committee on Thursday cut its key interest rate by a widely-expected half a percentage point to 1 per cent.
In a statement accompanying the latest decision the Monetary Policy Committee warned there was “substantial risk” that despite significant economic and monetary stimulus, demand is so weak that inflation will undershoot the Bank’s 2 per cent target...
The latest reduction in interest rates brings the interest rate down from 5 per cent in September and follows a half a percentage point cut in December to the lowest level since the Bank of England was founded in 1694.
However, the MPC said ongoing risks to the wider economy required further cuts in policy with many economists viewing Thursday’s move as yet another step on an inexorable march towards zero interest rates...
The MPC pointed to the global nature of the current slowdown, describing the world’s economy as “in the throes of a severe an synchronised downturn” and noted that because of the weakness of the global banking and financial systems, the supply of credit to households and businesses remained constrained...