UK interest rates cut to new low of 1pc (Telegraph)

A short story by Angela Monaghan at Telegraph.

Explaining its decision the Bank said “the global economy is in the throes of a severe and synchronised downturn”. It said the UK was facing a similar rate of decline in the early part of this year as it faced in the fourth quarter of 2008, when the economy shrank by 1.5pc.

Read the whole article

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