Bank of England may be forced to cut rates: UK Observer

Discussion in 'Wall St. News' started by ASusilovic, Sep 23, 2007.

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    The Bank of England could be forced to make a confidence-boosting cut in interest rates as soon as next month, to cushion the economy from the credit crunch.

    As the fallout from America's sub-prime loans crisis spreads, City analysts have been scrambling to slash their GDP growth forecasts to take account of the shutdown in the money markets, which is forcing many banks to push up interest rates and tighten lending criteria.,,2174720,00.html