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Interest rate cut: an analysis
Interest rate cut: an analysis
Last Modified: 10 Apr 2008
By:
Faisal Islam, Sarah Smith
Another cut in rates and they may fall again by the summer as the Bank of England warns there's a risk of a "sharp" economic slump.
As expected the Bank knocked a quarter point off rates today.
It's the third cut since December.
The cut sent the pound to a new record low against the euro, and business leaders have told Channel 4 News that sterling's slide "is beginning to be a matter for concern".
There's been a sceptical reaction to the Bank's approach from the billionaire investor George Soros who featured in the second package above in an interview with Sarah Smith.
Click 'Watch the video' above to view both.
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After the collapse of the US sub-prime mortgage market, the global economy is in the throes of a credit crunch.
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