Just read on the Reuters news site that after todays MPC (Monetary Policy Committee) meeting we could see interest rates at their lowest level for over half a century. Some are predicting we could end up with interest rates close to zero and could remain there for sometime.
The BBC news site is reporting that business leaders and economists have called for the one percent cut to two percent.
It seems they’re looking back to Japan in 1990 when they cut their interest rates to zero to resuscitate their economy.
Lets see what 2009 brings.
[...] December 4, 2008 by wizard1974uk This an update to my earlier post. [...]