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Commentary - Central Bank of Britain Lowers Rates
Member rating: No Rating | Words: | Submitted: Thu Jul 11 2002
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Commentary - Central Bank of Britain Lowers Rates Wednesday, April 12, 2001 Section Covered: 03 Word Count: 448 Suzanne Kapner, (04/06/01), Central Bank of Britain Lowers Rates, New York Times, http://www.nytimes.com ENGLISH INTEREST RATES DECREASING On April fifth the Bank of England lowered short term interest rates by 0.25 bringing it down to 5.50 percent. The main cause of this was to reduce the impact of the sharp declines in world stock markets on Britain's economy. Britain is better off than many of its neighbouring countries whose inflation and employment are on a rise. Though demand is decreasing abroad, the British one, remains strong. The unemployment rate is also at its lowest in 25 years. The government intends to further stimulate the economy by spending more and by taxing less. Lastly there still are some concerns about Britain's economy concerning with other factors such as the mouth and foot disease. To understand better the reasons for the...
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