Rates slashed to two per cent
Updated on 04 December 2008
The Bank of England has cut interest rates again, by one per cent, from three to two per cent.
Today's one per cent cut, coming straight after a 1.5 per cent last month shows just how desperate the Bank of England is to stimulate the economy.
In another sign of the speed of the economic downturn, figures this morning show that new car sales dropped by almost 37 per cent on last year's figures.
