March 5, 2009

Eurozone rates slashed to 1.5%

Eurozone interest rates have been slashed by a half percentage point to the lowest level ever as the European Central Bank responds to continental Europe’s worst recession since the second world war.

The ECB said its main interest rate would fall from 2 per cent to 1.5 per cent, bringing the total cut since early October to 275 basis points, and taking the eurozone’s monetary guardian into territory not charted since the euro’s launch in 1999.

http://www.ft.com/world/europe

Bank cuts rates by 50 points to 0.5%

The Bank of England’s monetary policy committee cut its key rate by half a percentage point to 0.5 per cent on Thursday and unveiled a programme under which it will buy up to £150bn in government gilts and corporate bonds.

http://www.ft.com/home/uk

UK interest rates lowered to 0.5%

The Bank of England has cut interest rates to 0.5% – a fresh all-time low – and said it was now boosting the money supply to help revive the economy.

http://news.bbc.co.uk/1/hi/business/7925620.stm