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Article: United Kingdom.(cuts interest rates to forestall recession)

Article from:
What Investment
Article date:
September 1, 2001
Copyright

Under pressure

Interest rates are cut again to prevent the UK economy from pitching into a full-blown recession

Very few investors can have failed to notice that economic growth is slowing down throughout the world. This is a particular concern of the Bank of England's Monetary Policy Committee (MPC), and was one of the reasons prompting it to cut interest rates again at the beginning of August.

Explaining its decision, the MPC says: "Indicators of world economic activity have been weaker than expected over the past few months. This, and the persistent strength of sterling, are adding to the pressures on the externally exposed sectors of the UK ...

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