Bank of England dropped 1.5% to 3% the lowest since their inception in 1694
ECB dropped 0.5% to 3.25% today at 12.45
US Fed is at 1%
Bank of Japan 0.3%
the one that strikes me is Bank of England taking such a drastic step, they would have to be pretty scared to do this. On the bright side it could be the shot of adrenaline required to get markets moving, improving won’t happen for some time either way but this might help kick start things.
that’s only 2 rate cuts right?
2 happened today ECB and BOE, japan and fed were recent, just to give an idea of where base rates are going.
I think we are seeing the end of the bank of englands so-called “independence”. They’ve been getting slaughtered in the press for not cutting rates, and behind the scenes I’d say that the political pressure has been pretty intense.
gonna move this thread to the central bank forum as it has loads of seperate threads on these cuts