Mobile UPI  |   About UPI  |   UPI en Español  |   UPI Arabic  |   UPIU  |   My Account
Search:
Go

Business News

Bank of England Cuts Rates Sharply

Nov. 6, 2008
The Bank of England cut its benchmark interest rate by 1.5 percentage points on Thursday, more than economists predicted.
Related Stories from UPI.com

Bank of England may cut interest rates

LONDON, Jan. 3 (UPI) -- The Bank of England may soon cut interest rates on savings accounts to their lowest in its 315 years of operation due to the economy, experts say.
Brown urges banks to cut mortgage costs

Brown urges banks to cut mortgage costs

LONDON, Dec. 5 (UPI) -- Banks overcharging borrowers on mortgages should cut back the rates immediately, British Prime Minister Gordon Brown said Friday.

Two European banks cut interest rates

LONDON, Dec. 4 (UPI) -- Central banks in Britain and Sweden cut their key interest rates to 2 percent Thursday to provide liquidity to financial markets.

Europe expects rate cuts, more bad news

LONDON, Dec. 3 (UPI) -- European financial markets were braced for large interest rate cuts across the continent in the wake of more bad economic news.

Inflation falls sharply in Britain

LONDON, Nov. 18 (UPI) -- Inflation in Britain fell in October by the biggest margin since 1997, possibly signaling a central bank lending rate cut in December, an economist said.

ECB rate cut falls short, France says

PARIS, Nov. 7 (UPI) -- French Finance Minister Christine Lagarde said the European Central Bank's lending rate cut this week wasn't good enough.

Lloyds to pass rate cut on to customers

LONDON, Nov. 6 (UPI) -- A major British bank said it would pass on the full lending rate cut announced by the Bank of England Thursday to its customers.

Banks in Britain fail to lower rates

LONDON, Oct. 31 (UPI) -- Half of Britain's banks failed to lower interest rates on adjustable rate mortgages after the Bank of England cut its rate Oct. 8, a research group said.

Central banks poised to cut rates

WASHINGTON, Oct. 28 (UPI) -- Authorities at central banks in Europe and the United States have indicated that lending rate cuts to support the battered global economy may be coming soon.

Federal reserve cuts interest rates

WASHINGTON, Oct. 8 (UPI) -- Central banks in Europe, Canada and the United States cut key lending rates in tandem Wednesday morning, the U.S. Federal Reserve announced.

Bank of England leaves rates unchanged

LONDON, Sept. 4 (UPI) -- The Bank of England said Thursday it would keep its key interest rate at 5 percent, leaving the rate unchanged for the fourth consecutive month.

Bank of England leaves key rate unchanged

LONDON, Aug. 7 (UPI) -- The Bank of England said Thursday it would keep its key interest rate at 5 percent.

Bank of England maintains lending rate

LONDON, July 10 (UPI) -- The Bank of England said Thursday it would keep its key interest rate at 5 percent.

Analysts: England bank rate cut unlikely

LONDON, May 1 (UPI) -- Bank of England officials have signaled that further cuts in its key lending rate -- now at 5 percent -- are unlikely next week, various analysts said.

Bank of England offers $100 billion swap

LONDON, April 21 (UPI) -- The Bank of England, looking to shore up the country's banks, announced a $100 billion exchange of government bonds for mortgage-backed securities Monday.
1 of 29
French Open tennis in Paris
View Caption
Russian Maria Sharapova signs autographs after winning her French Open womens first round match against Romanian Alexandra Cadantu at Roland Garros in Paris on May 29, 2012. Sharapova defeated Cadantu 6-0, 6-0 to advance to the next round. UPI/David Silpa