Interest rates slashed to 2%

Created 04 Dec 2008

The Bank of England has announced another aggressive rate cut, reducing the base rate from three to two per cent.

The move follows the 1.5 per cent cut announced on 6 November, meaning that rates have halved in one month and fallen to their lowest level since the Queen was crowned. The pound fell to $1.46 against the US dollar on the news.

Read more