Interest Rate Cut 08 02 2008 - News Archive
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Interest Rate Cut
Yesterday the Bank of England cut interest rates by 0.25% making the new rate 5.25%. This is the second cut in the last three months. Experts have stated that it could take up to two years for any effects to show in the UK property market and the rate cuts are not low enough or quick enough.
It is hoped that the interest rates will be as low as 4.5% by the summer and 4.25% by the end of the year but the Bank of England seem to be dragging their heels.
:: Added on: 08:02:2008 ::
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