Bank of England resorts to drastic measures to prevent recession in UK

Bank of England

The Bank of England (BoE) have decided to take drastic actions to stop the UK entering a recession by cutting interest rates from 0.5% to 0.25% and pushing billions of newly created money into the economy. This is the lowest level interest rate cut in the institution’s history of 322 years.

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All Eyes on the US Dollar

EUR/GBP     £0.8378 Discussions about the Greek debt are still dominating on the European market. The single currency gained slightly against the British Pound the UK and seems to remain at this level. There are minimal economic announcements from Europe today as the market attention is currently concentrated at the US Dollar. The Euro is trading at £0.8378 at the moment and still moving upwards. GBP/EUR     €1.1944 Things are quiet for the Pound today as the attention is concentrated towards the US Dollar. The Pound however is still struggling against the…

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