Bank Of England reduced rates by 1.5% in shock move
If we were looking for some good news we were certainly not disappointed with the Bank of England deciding to cut rates in the UK by 1.5% in a move which has been welcomed across the board but also attracted its fair share of cynicism. What does the Bank know that we don't know? Was this politically motivated? Is it too much too soon?
There are so many questions to answer that it will be very interesting to see exactly how the bank's MPC committee voted as individuals. Many analysts are also waiting news on the worsening UK economy, hopeful of good news on inflation and more importantly a quiet confidence that the mortgage companies will now be forced to reduce rates in the UK sooner rather than later.
This shock move is sure to see the stock market bounce, a part return of the feelgood factor and is should be repeated across Europe in a combined effort to refloat not only the European but the worldwide economy. The next few days are vital for the UK economy, the UK stock market and the government as this welcome move needs to be backed up with further momentum.
Share this..
Related stories
Why does Lloyds bank need additional finance from the taxpayer?
Lloyds bank is rumoured to be on the verge of asking the UK government for an additional £5 billion from taxpayer coffers at a time when the UK banking sector has made strides but the likes of Lloyds bank and Royal Bank of Scotland still appear to be struggling. It seems that the call for extra funding centres upon the banks recent agreement to join the government's asset protection scheme and th...
Read MoreGordon Brown tries to reassure small business community
In a move which will never actually happen in real life Gordon Brown has publically called for all NHS Trusts and local councils to pay their suppliers within 10 days of being invoiced in order to assist with business cash flow. However, these are plans which we have all heard before and never seem to happen - when was the last time you had a claim or a payment made within 10 days never mind a bu...
Read MoreShould all women receive maternity leave even if they don't have children?
A UK think tank has today caused significant ripples in the UK employment market with the idea that all women should be offered "maternity leave" even if they do not have children. In a situation which is starting to get out of control, the UK equality movement is now calling for ladies in the workplace to be offered paid or unpaid leave from work which would effectively be their "maternity leave"...
Read MoreUK mortgage market could be hit by increased costs
The UK mortgage industry has warned UK homebuyers that regulatory changes which now force mortgage lenders to check customer financial strength in more depth will lead to increased fees for mortgage arrangements. This comes at a time when UK mortgage fees are starting to creep higher and higher, even ahead of the changes, and the marketplace is becoming more complicated to understand and appreciat...
Read MoreBank issues instability warning
Britain's financial system is becoming more and more "vulnerable" because of major bodies increasing their risk-taking, the Bank of England has warned.Publishing its financial stability report today, the Bank suggests that an "abrupt change" to market conditions could trigger serious consequences because of the heightened dangers.The growing use of credit risk transfer markets, leveraged corporate...
Read More