Bank of England cuts interest rates to new record low

Jazzy

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"The Bank of England has cut interest rates in the UK for the first time since March 2009.

Mark Carney, the governor of the Bank, announced that interest rates would drop from 0.5% to 0.25%.

There has been an increasing pressure on the Bank to take action after poor economic data in recent weeks.

‘Economic data since the referendum have weakened sharply. There is a real need for more stimulus now,’ said Samuel Tombs, the chief UK economist at Pantheon Macroeconomics.

David Blanchflower, a former Monetary Policy Committee member, said that if the Bank didn’t act and it ‘turns out they should have’, then the situation would be ‘much worse’.

However, Andrew Sentance, a former MPC member and now senior economic adviser at PwC, told the BBC that a rate reduction would at this point be a ‘wasted gesture’.

‘I wouldn’t be surprised to see a rate cut, but I don’t think it’s the right decision at the moment,’ he said."

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Thoughts?
 

Ghoul

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As soon as we get to negative interests rates, out comes my money from the bank and I'm putting it under the floor boards :ROFLMAO:
 

Worldwide

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They need to make their move and make the separation from Europe and get on with it. Delaying it is causing uncertainty in their market.
 

APS

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They need to make their move and make the separation from Europe and get on with it. Delaying it is causing uncertainty in their market.
I get the impression that's not going to be any time soon.
The vote was out so get on with it.Simples
 
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