BoE cut the interest rates with 1.5% today

The Bank of England unexpectedly cut the benchmark interest rate by 1.5 percentages to 3.00%. This is the lowest level since 1955. The banking and credit crisis is the main reason for the unexpected cut. The markets expect Bank of England to cut interest rates with half percent. At the same time European Central Bank cut the benchmark interest rates with half percent to 3.25%. We can see new interest rates cut from ECB, Bank of England and Federal Reserve till the end of the year said George Marshal forex analyzer in The pound remain stable in spite the interest rates cut with fast movements into both directions. The dollar rises against the euro although the expecting ECB action.

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