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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Henry Volquardsen who started this subject	1/10/2001 8:14:01 AM
From: friverola	of 3536

Should UK interest rates be cut? (BBC News) fxstreet.com The Bank of England is under pressure to cut rates. BBC economics reporter Dharshini David examines the case for and against a cut in interest rates when the Bank of England meets this week. In recent months, there has been a growing consensus that interest rates have peaked. The debate has now switched to the timing of the first cut. There are several arguments for bringing rates down this week from their current level of 6%. Perhaps the most pressing reason to bring rates down this month are recent events in the US Manufacturers have been particularly vociferous in calling for lower rates. Over the last few years, the strength of the pound against the euro has made their exports more expensive. As a result, industry has struggled and has lost in excess of 150,000 jobs. The most recent evidence suggests that exports are recovering, perhaps due to buoyant activity in Europe. But exporters remain vulnerable to any global slowdown in activity. Meanwhile, growth in the UK economy as a whole slowed between the second and third quarters of last year, according to the latest available figures. fxstreet.com

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