Bank cuts interest rate by quarter per cent
The Bank of England today announced an interest rate of a quarter per cent, to 4.5 per cent.
The widely anticipated move is in line with the US and other central banks, which have acted to avoid global economic recession.
The UK interest rate has already been cut a number of times this year, including a quarter point in September. Commentators do not rule out further cuts before the end of the year.
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