General News » Garrett Tedeman, MBA, CPA

By: Newchicagocpa  09-12-2011

Lowest since 1694?!?

Bank of England Reduces Interest Rate to 1% to Fight Recession

By Brian Swint

King will present the bank’s updated economic forecasts on Feb. 11. Minutes of this month’s meeting, showing how the members voted, will be published on Feb. 18.

The Bank of England has now lowered its rate by 4 percentage points since October. The U.S. Federal Reserve has reduced its key rate to a range between zero and 0.25 percent. The European Central Bank will probably keep its rate at 2 percent today.