We’re not alone in our problems…..
by Tom on February 5, 2009
in Market Musings, banks
We’re not alone in our financial struggles. The Bank of England cut their interest rates to the lowest level since 1694. Let’s think about that. 1694 is a long time ago. The United States wasn’t even in existence then….
They are also dealing with their own “stimulus” issues. I hope at least one of us gets it right.
Bank of England Cuts Key Rate to 1% – NYTimes.com
The Bank of England cut its benchmark interest rate for a fourth month to 1 percent on Thursday as the government studies additional measures to repair the economy.The central bank cut the rate by half a percentage point to its lowest level since the bank’s creation in 1694. Pressure on Prime Minister Gordon Brown’s government is mounting to introduce new stimulus measures, which could include the creation of a so-called bad bank, as monetary policy is reaching its limit and workers staged walkouts asking for more job security.
