FT.com / UK - UK interest rates cut by half a point to 1%
Very surprised this hasn't been posted yet. The Bank of England has dropped rates down to 1% which is the lowest the UK rates have ever been in the entire 315 year history of the BoE!
Will they like the US go all the way down to 0? Is this actually working?
Oddly any effect this particular cut has on the euro vs sterling rate seems to have fizzled out before it was even official:
I'd imagine it was priced in to most markets already . . . but its better to give good news out on the drip , , , and dump bad news all in one day .... they could teach our boys a thing or two.
I'm sure it was, I'm just surprised that it started falling again so soon.Originally Posted by LeftOfCentre
The UK are fupped just like the US ,they are trying to encourage consumerism, will not work.They are loading money into failed banks,into nonproductive areas,they are welfare states they are dead.
Watch the backend of this year and early 2010 what will happen to the UK and USA ,the printer is out and fiat dollars and sterling will take a massive hammering.
Obama is upsetting the people he borrows moneys off,has gone into a protectionest mode the game is up
A champion of the people emerges with the age-old and appealing promise of "something for nothing" - to be financed through every-increasing taxes. Supply and demand are thrown out of gear - the overhead goes up; the effective use of human energy goes down; the standard of living is lowered because money cannot buy wealth that is not produced.
WEAVER, HENRY GRADY,
LinkBack URL
About LinkBacks
Reply With Quote