THE WORLDPOST
03/08/2009 05:12 am ET Updated May 25, 2011

Bank Of England Slashes Interest Rates To Record Low 1%

The Bank of England sent interest rates tumbling further to a new historic low of 1% today.

Rate-setters cut borrowing costs from 1.5% - the lowest since the Bank was founded in 1694 - as they attempt to combat a worsening downturn.

Read more on The Independent