online.wsj.com - 1/8/2009
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See Corrections and Amplifications below The Bank of England cuts its key rate by a half percentage point to 1.5%, the lowest level in the bank's 315-year history, marking the latest in global policy makers' efforts to fend off the threat of deep recession. With Britain's action, officials ...
bloomberg.com - 1/8/2009
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bloomberg.com —
Jan. 8 (Bloomberg) -- The Bank of England
cut the benchmark interest rate to the lowest since...
the central bank was founded in 1694 as policy makers tried to prevent the credit squeeze from deepening Britain’s recession. The Monetary Policy Committee, ...
(more)
BOE Cuts Rate to Lowest Since Bank’s Creation in 1694 ...
bankofengland.co.uk - 1/8/2009
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Brother Can You Spare 20 Trillion Dimes?
Trading Goddess —
... Asia is a mess with the Shanghai falling 2.3% and they were the stars of the day. The Hang Seng dropped 3.8% and the Nikkei gave up 3.9% (Bombay, who fell 7.25% yesterday, wisely took a holiday today). European markets are off another 1.5% this morning but the global Dow is still hanging tough at 1,555 and we can maintain hope as long as they can maintain 1,500 so we'll be watching that closely in our next Big Chart Review. As expected, the BOE cut rates to 1.5%, the lowest level since the bank was founded in 1694 so when we say these are once in a lifetime ...
Historically low interest rates ... really
The Mess That Greenspan Made —
This Wall Street Journal story about the Bank of England's short term interest rates over the last few centuries is behind the subscription wall, but you should get the gist of it from the graphic below - these really are historically low rates. IMAGE Notice that interest rates rose briefly during the South Sea Bubble...
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Buy like the Bank of England
ftalphaville.ft.com 1/30/2009 — If the Bank of England does start to buy up corporate bonds, as Mervyn King hinted last week, then those purchases are likely to target investment-grade non-financial issues, according to Morgan Stanley analysts.
This is important because, as they see it,
Deployed against the £ corporate bond ...
Bank of England cuts interest rates by 50 bps
ftalphaville.ft.com 2/5/2009 — Bank of England reduces Bank Rate by 0.5 Percentage Points to 1.5%:
8 January 2009
The Bank of England’s Monetary Policy Committee today voted to reduce the official Bank Rate paid on commercial bank reserves by 0.5 percentage points to 1.5%. The world economy appears to be undergoing an ...
Bank of England Slashes Key Rate to Lowest Since 1955 (Update1)
bloomberg.com 11/6/2008 — Nov. 6 (Bloomberg) -- The Bank of England unexpectedly cut the benchmark interest rate by 1.5 percentage points to the lowest since 1955 as U.K. policy makers tried to limit damage caused by the worst banking crisis in almost a century. The ...
More rate cuts around the world
themessthatgreenspanmade.blogspot.com 11/6/2008 — Quarter-point interest rate cuts seem so passé in the new world financial order. It seems that, if you're going to cut interest rates, you need to cut by at least a half-point, otherwise your central banker friends are going to laugh at you. In the ...
Bank of England, Huge Panic Cut
benbittrolff.blogspot.com 11/6/2008 — The market was expecting 1% at most. This cut smells of absolute panic. The market is taking this as a bad bad sign. This is the largest single cut I’ve ever seen from the Bank of England. Just another Step Closer to ZIRP, Liquidity Trap, Lost Decade. ...
A look at the Bank of England’s balance sheet
macroblog.typepad.com 3/21/2009 — The current financial crisis is global in scope, with central banks responding in various ways to mitigate the strains in their respective countries. The Federal Reserve is not the only central bank that has been aggressive in its response. For ...
Know When To Hold 'Em —
The Big Money 1/7/2009
The Federal Deposit Insurance Corp. on Monday agreed to sell IndyMac, a failed bank it took over last July, to a group of sharp Wall Street operators. They're paying about $15 billion, leaving the FDIC with a loss of about $9 billion on the ...
Business this week —
The Economist: Full print edition 1/8/2009
The Congressional Budget Office forecast that America’s budget deficit for the 2009 fiscal year would reach almost $1.2 trillion (close to $4,000 for every man, woman and child). The actual figure will probably be higher if Congress approves a ...
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