Date:07/11/2008 URL: http://www.thehindu.com/2008/11/07/stories/2008110754471800.htm

Business

Bank of England cuts key rate to 3%

LONDON: The Bank of England on Thursday slashed its benchmark interest rate by 1.50 percentage points to three per cent, reportedly the lowest in over 50 years, a move that will help in enhancing liquidity in the country’s financial system.