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Further interest rate cuts expected
19 November 2008
Interest rates are expected to fall again after the release of minutes from the Bank of England meeting at which rates were lowered from 4.5% to 3%.
The Bank's own calculations showed that a cut to 2.5% or even lower would be needed to stop inflation falling too far below its target next year.
The 1.5% cut which happened on the 6th of November was the biggest reduction since 1981 and took the interest rate to its lowest since 1955.
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