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Bank of England cuts rates
The Bank of England, the US Federal Reserve and the European Central Bank are among seven central banks that have cut interest rates by 0.5%.
The UK rate move had not been expected until later this week and means interest rates now stand at 4.5%.
The US Federal Reserve has cut rates from 2% to 1.5% and the European Central Bank trimmed its rate to 3.75%.
Central banks of Canada, China, Sweden and Switzerland have all taken similar action.
This co-ordinated move is designed to help the global economy and boost falling stock markets.
Post Date: October 8th, 2008
The UK rate move had not been expected until later this week and means interest rates now stand at 4.5%.
The US Federal Reserve has cut rates from 2% to 1.5% and the European Central Bank trimmed its rate to 3.75%.
Central banks of Canada, China, Sweden and Switzerland have all taken similar action.
This co-ordinated move is designed to help the global economy and boost falling stock markets.
Post Date: October 8th, 2008
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