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Thursday, November 08, 2001 9:10:37 AM
Global liquidity continues. Will it bolster the equity markets?
BBC News
The Bank of England has cut its main interest rate by a half point to 4%. This is the seventh cut the Bank has ordered this year, as Britain strives to shield its economy from the global slowdown, and takes UK rates down to the lowest level since January 1963.
The cut was more aggressive than had been expected, and will please industrialists and unions, which had earlier called for action to boost Britain's flagging manufacturing sector.
"World economic activity had weakened further, and evidence on the outlook now suggests that the global slowdown may be somewhat deeper and longer than previously thought," the MPC said in its post-meeting report.
http://news.bbc.co.uk/hi/english/business/newsid_1644000/1644767.stm
BBC News
The Bank of England has cut its main interest rate by a half point to 4%. This is the seventh cut the Bank has ordered this year, as Britain strives to shield its economy from the global slowdown, and takes UK rates down to the lowest level since January 1963.
The cut was more aggressive than had been expected, and will please industrialists and unions, which had earlier called for action to boost Britain's flagging manufacturing sector.
"World economic activity had weakened further, and evidence on the outlook now suggests that the global slowdown may be somewhat deeper and longer than previously thought," the MPC said in its post-meeting report.
http://news.bbc.co.uk/hi/english/business/newsid_1644000/1644767.stm
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