Bank of england cut rate by 1.5%

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sandrat

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Just been announced. Leaves the rate at 3% in England. How low will ECB go after this announcement?
 
would they not want it to be at least the same at england?

Wonder if they might go a whole 1%?
 
ECB/RATE VIEW: Citigroup have changed their ECB rate call and now
say that they expect a November rate cut of unprecedented size. "A cut
of 100bps looks more likely than a cut of 75bps or 50bps", says
economist Jurgen Michels who attributes the change in rate call to "the
dramatic events in recent weeks, including the sharp fall in economic
confidence and inflation this week". Citigroup were previously
forecasting a 50bps rate cut. "However, if they cut by 'just' 50bps in
November, we would expect another cut by at least 50bps in December",
added Citigroup.
 
.5% drop

The European Central Bank has lowered its eurozone interest rates to 3.25% in a bid to prevent a looming recession.
The bank has reduced rates by half a percentage point from 3.75% amid increasing signs of slowing growth
Click to expand...
 
dubmick said:
ECB/RATE VIEW: Citigroup have changed their ECB rate call and now
say that they expect a November rate cut of unprecedented size. "A cut
of 100bps looks more likely than a cut of 75bps or 50bps", says
economist Jurgen Michels who attributes the change in rate call to "the
dramatic events in recent weeks, including the sharp fall in economic
confidence and inflation this week". Citigroup were previously
forecasting a 50bps rate cut. "However, if they cut by 'just' 50bps in
November, we would expect another cut by at least 50bps in December",
added Citigroup.
Click to expand...

I'll keep a note in my diary to watch out for the December 0.5% cut, then.
 
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