Bank of England cuts rate to all-time low

The Bank of England cut its benchmark interest rate by 0.5% to an all-time low of 1.5%, citing an “unusually sharp and synchronized downturn” in the world economy.
JAN 08, 2009
By  Bloomberg
The Bank of England cut its benchmark interest rate by 0.5% to an all-time low of 1.5%, noting that the world economy faces an “unusually sharp and synchronized downturn.” The benchmark is now at its lowest level in the bank's 315-year history. The bank has cut rates 3.5 percentage points since the beginning of October. “Measures of business and consumer confidence have fallen markedly,” said a statement released by the bank. “World trade growth this year is likely to be the weakest for some considerable time.” The half-point rate cut was less than the 1% cut that economists had been expecting but was lower than the 1.5% cut announced in November.

Latest News

The 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.