January 08, 2009

Bank of England Cuts Interest Rates

Move sends sterling higher against dollar and euro in forex trading

Today, the Bank of England, in a move that was totally expected, cut interest rates to 1.5%. This is the lowest that the rate has been in the history of the Bank of England. And that's pretty good, because the Bank of England has been around for 314 years. Since before the U.S. was even a country.

Today's move has benefited the sterling in currency trading. The British currency is higher against both the U.S. dollar and the euro in forex trading, although it is struggling against some of the other majors (JPY and CHF).

The interest rate cut is supposed to help boost the British economy, but we will see whether it can overcome the persistent global recession.


	Sterling in Currency Trading
	Forex trading with world currencies
	http://www.gftforex.com/land/index.asp?aid=446

	More on the British Interest Rate Cut
	Interest rates in other countries
	http://www.forexblog.org/2009/01/uk-eu-rates-headed-downwards.html

Topic Tags: Bank of England, currency trading, dollar forex trading, euro forex trading, forex trading, interest rate, sterling currency trading

by mmarquit

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