Surprise cut in UK interest rates

Discussion in 'Serious' started by GreatOldOne, 6 Feb 2003.

  1. GreatOldOne

    GreatOldOne Wannabe Martian

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    The Bank of England has surprised City analysts by cutting interest rates by one quarter of a percentage point.
    After 14 months on hold, rates have been cut to 3.75%, taking borrowing costs to their lowest level since 1955.


    http://news.bbc.co.uk/1/hi/business/2732645.stm

    Good news for all of us with mortgages! :D

    Not so good news for people with savings!
     

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