Excerpt from: Spot Forex
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| January 08, 2009 | | Spread bets and CFDs on interest rates | Earlier this week, there was speculation that U.K. rates would fall below 2% on this week's Bank of England meeting. The speculation turned out to be correct, as today the BoE cut the interest rate a full percentage point to 1.5%.
This 1.5% Bank of England interest rate represents the lowest it has ever been in more than 300 years of history. The hope is that this dramatic cut -- on the heels of dramatic cuts being made since last summer -- will stimulate the ailing British economy.
Canada, the U.S. and the European Union are all expected to lower interest rates over the next couple of months.
| Topic Tags: Bank of England, British economy, CFDs, interest rates, spread bets, spread bets interest rates, spread betting U.K. rates, U.K. rates | |
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