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- Categories: All News, Financial News
Lowest levels for over 50 years
Interest rates were cut to their lowest level in over 50 years on Thursday 6 November when the Bank of England cut its official rate by 1.5 percentage points to 3 per cent, a cut three times larger than any seen since the Bank’s Monetary Policy Committee was established in 1997. This was followed by another 1 per cent reduction on Thursday 4 December, bringing the rate down to 2 per cent, a level not seen since 1951, when Winston Churchill was in office.
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