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

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave