Interest rates reduced by .5%
08 October 2008
A show of unity by many central banks in all cutting their interest rates by .5% is a very important and positive signal in these difficult times.
The European Central Bank, US Federal Reserve and Bank of England have all cut interest rates by half a percentage point.
The ECB interest rate now stands at 3.75%, the Bank of England rate is 4.5% while the US Federal Reserve's key rate is down to 1.5%.