Did the Bank of England, BOE keep interest rates the same?
December 9, 2008 - Tight Credit Stirs Central Banks U.K. Rate Cut Is First In More Than Two Years; ECB Girds for Slowdown By JOELLEN PERRY and ALISTAIR MACDONALD December 7, 2007;
Tight Credit Stirs Central Banks ... U.K. Rate Cut Is First ... In More Than Two Years; ... ECB Girds for Slowdown ... By JOELLEN PERRY and ALISTAIR MACDONALD ... December 7, 2007; Page A2 Wall Street Journal ... ... LONDON -- Mounting concerns about the economic fallout from the global credit-market turmoil trumped inflation worries in Europe as the Bank of England cut its key rate for the first time in more than two years, while European Central Bank policy makers held steady despite persistent price pressures. ... The Bank of England lowered its key policy rate by a quarter-point to 5.5%, its first cut since August 2005. The ECB, meanwhile, kept its key rate at 4% despite rising inflation, as policy makers acknowledged that growth in the 13 countries that share the euro currency will slow next year. ... The News: The Bank of England cut its key rate for the first time in over two years, while the European Central Bank held rates steady. ... The Background: Investors in the U.K. have been clamoring for a cut amid growing signs the economy has taken a turn for the worse. ... What's Next: Many analysts see the ECB on hold throughout 2008, though a minority still predict a cut in the first half.The moves come at a particularly sensitive time for the United Kingdom, where investors and executives have been clamoring for a rate cut amid growing signs that the economy has taken a turn for the worse. As recently as August, many analysts expected robust house-price and financial-sector growth, among other things, to bring U.K. rates higher by year end. But as credit turmoil has hit mortgage lenders such as Northern Rock PLC and driven up consumer interest rates, the latest data have shown the service sector slowing sharply and house prices falling at the fastest rate in 15 years. ... "It's official: They're sufficiently confident [the credit crunch] will affect the economy," said Ross Walker, U.K. economist with the Royal Bank of Scotland, which recently lowered its forecast for 2008 economic growth to 2% from 2.3%. Futures markets see the U.K. central bank cutting rates by as much as a full percentage point more by the end of 2008.
- They cut em mate. ... ... http://news.bbc.co.uk/1/hi/business/7130443.stm
- no
Knowledge Base: Banks
Is the risk free rate of return on a given market equal to the central bank of that country?
December 9, 2008 - Category: Banks
i am currently doing a project on mergers and acquistions, i have to reference a risk free rate for the ftse 100, would it be correct to ume that the rate of return of investing in the central bank of england aka the bank rate is the markets fisk free rate
risk free rate return market... »
do you think the bank of england base rate will be cut tomorrow?
December 9, 2008 - Category: Banks
do you think it will make any difference to the mortgage market if it does go down by 0. 25 percent or are banks staying put due to the inter
think bank england base rate... »
Explain why the official interest rate announced by the Federal Reserve in the USA is important
December 9, 2008 - Category: Banks
the federal discount rtate also has effects on other credit markets, especially the libor london inter - bank rate in london. and it effects "swaps" between companies, and banks. the
Explain official interest rate announced... »
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