Fleet News

Interest rates cut by 1.5%

The Bank of England has cut interest rates by one-and-a-half percentage points to 3%.

This is the lowest rate since 1955.

Last month it cut rates from 5% to 4.5% in an emergency move co-ordinated with other central banks.

It is the biggest rate cut since a 2% reduction in 1981.

 


 

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