亚洲91视频,国产91网,久久久久久久久久久久久久久国产,亚洲一区二区三区日本久久九,亚洲日本久久,国产精品久久久99,亚洲欧美一区二

WORLD> Europe
Bank of England cuts interest rates 100 bps to 2%
(Agencies)
Updated: 2008-12-04 20:27

LONDON – The Bank of England slashed interest rates by a full percentage point on Thursday to shore up Britain's crumbling economy and head off the threat of deflation.


The Bank of England has slashed its key lending rate to 2.0 percent, the lowest level in more than half a century amid mounting evidence that Britain faces a deep recession. [Agencies]

The cut took rates to 2.0 percent, their lowest level in more than half a century. UK interest rates have never gone below this level since the central bank was created in 1694.

Related readings:
BOE wanted more cuts to stem the tide
BOE slashes rate to '55 level        Bank of England cuts key rate to 5%
Analysts had widely expected the move following business indicators suggesting the economy could be heading for an even deeper recession than most people had predicted.

Amid a global credit crunch banks have clamped down on lending, hitting Britain's highly-indebted economy hard. House prices have fallen 18 percent from last year's peak, unemployment is soaring and consumer confidence has taken a dive.

Britain's economy shrank in the third quarter for the first time since the recession of the early 1990s and analysts expect the pain to intensify into next year.