Interest Rate Cut By 1.5%

So the Bank of England has now reduced the base rate by 2% since September 2008, this was what was needed.

I attended a seminar in September 2008 run by the Telegraph Business Club in which Mark Berrisford-Smith Senior Economist with HSBC Bank plc told the delegates that if interest rates was not cut by 2% in the next day that the recession would be prolonged and deep. The cut announced was 0.5% as a result the stock exchange crashed.

The Bank of England have now taken that appropriate action, and rates have been cut to this level. It’s good to see that steps have now been taken to take us out of recesssion next year.

Good news for all businesses, buyers of businesses and sellers of businesses.

This entry was posted on 06/11/2008 at 01:41 pm and is filed under The Economy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.