Daily Talk Forum
  • Advertise
  • Search
  • Member List
  • Calendar
Hello There, Guest! Login Register
Daily Talk Forum › General Discussions › Business v
« Previous 1 ... 9 10 11 12 13 ... 36 Next »

UK Interest Rates Cut to 2%



Post Reply 
 
Thread Rating:
  • 0 Votes - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Threaded Mode | Linear Mode
UK Interest Rates Cut to 2%
forwardone Offline
Gold Member
*****
Gold Members

Posts: 6,705
Joined: May 2006
Reputation: 15
Post: #1
UK Interest Rates Cut to 2%

The Bank of England's monetary policy committee today cut interest rates by a full percentage point to just 2% - the lowest for 57 years and the joint lowest in history.

The cut was widely expected after a run of awful data from every part of the economy this week which suggested that Britain is tipping into a long and deep recession that could last a lot longer than Alistair Darling predicted in last week's pre-budget report.

TUC General Secretary Brendan Barber said: "This decision was spot on. The Bank of England could not be clearer about what it expects the high street banks to do.

"The government must now pull every lever of influence to get banks lending. If that doesn't work, radical measures will be needed straight away. The alternative is a wave of bankruptcy and redundancy."

HSBC said it would pass on the rate cut in full, as Lloyds TSB had promised yesterday it would. The Halifax said it would pass on the rate cut in full to all its tracker rate customers, brushing aside a previous downward limit on rates. But Royal Bank of Scotland said that while it would pass the cut on to its business customers, it would "strike an appropriate balance between the interests of savers and borrowers in any decision it makes" on personal customers.

Guardian.co.uk
12-04-2008 02:42 PM
Find all posts by this user Quote this message in a reply


« Next Oldest | Next Newest »
Post Reply 


Possibly Related Threads...
Thread: Author Replies: Views: Last Post
  ECB raises interest rates to 1.5% forwardone 0 1,238 07-07-2011 01:22 PM
Last Post: forwardone
  Bank of England inflation report to pave the way for interest rate rises forwardone 1 1,328 06-15-2011 11:27 AM
Last Post: Bradshawe
  Rates relief as inflation falls back to 3.2% forwardone 0 1,111 07-13-2010 04:37 PM
Last Post: forwardone
  Japan slashes interest rates to 0.1% forwardone 0 941 12-19-2008 11:01 AM
Last Post: forwardone
  Desperate Europe cuts rates again cyrano 0 836 12-05-2008 07:32 AM
Last Post: cyrano

  • View a Printable Version
  • Send this Thread to a Friend
  • Subscribe to this thread
Forum Jump:


User(s) browsing this thread: 1 Guest(s)

Advertise on Daily Talk Forum
  • Webmaster Forum
  • cPanel Hosting
  • SEO Directory
  • Toronto
    • Contact Us
    • Daily Talk Forum
    • Return to Top
    • Lite (Archive) Mode
    • RSS Syndication
    • Help
    • Portal
    • Membership
    • Advertise
    • Banners
    • Privacy
    • Rules

    • Review DTF at Alexa
    • Review DTF at Nortons
    • Site Map

    • Links
    • Your Link Here
    Current time: 01-26-2021, 07:50 PM Powered By MyBB, © 2002-2021 MyBB Group Theme created by Justin S