Tesco chief 'asked for rates cut'
Updated on 08 November 2008
The head of Tesco called for a cut in interest rates at a private meeting with the Bank of England's governor.
The meeting between Sir Terry Leahy and the Bank's Mervyn King took place in the days before Thursday's surprise 1.5% interest rate cut, according to The Guardian.
Sir Terry, chief executive of Britain's biggest supermarket chain, reportedly argued that the Monetary Policy Committee (MPC) should make a big cut to the cost of borrowing to help restore consumer confidence.
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