Bank of England in dramatic move cuts benchmark interest rate 1.5% to 3%; Lowest rate since 1955
Nov 6th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Bank of England interest rate setting Monetary Policy Committee (MPC), in a dramatic move today, today cut its benchmark rate by 1.5% to 3.0% as the UK faces a severe recession.