Interest rate cut expected

Time 13 years ago

interest rate cut expectedTHE Bank of England is widely expected to cut interest rates again later today, to just 2 per cent.

The 1 per cent cut is to help further stimulate the economy, in the face of worsening economic data.

A rapid fall from interest rates of 4.5 per cent a month ago, the 2 per cent rate would be the lowest seen in the UK since 1951.

The bank is keen for a sharp stimulus, as evidence emerges that the recession will be worse than initially predicted.

Governor Mervyn King has already gone on record to say: ‘We will take whatever action we feel is necessary on interest rates, to steer the economy back into calmer waters.’

This sets the scene for a further cut today. Come back to Car Dealer for full analysis of how the industry reacts to the change…

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Car Dealer has been covering the motor trade since 2008 as both a print and digital publication. In 2020 the title went fully digital and now provides daily motoring updates on this website for the car industry. A digital magazine is published once a month.

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