BoE slices interest rate to 5.25%, ECB opens to idea

02/8/2008

The Bank of England cut interest rates for the second time in two months as it struggled to manage a downturn, while the European Central Bank backed off a threat to raise rates. The ECB left its main interest rate at 4% while the Bank of England cut its benchmark rate by a quarter-point to 5.25%. The ECB suggested for the first time that it too might cut rates.

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