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To: BGraham who wrote (67073)	4/5/2001 8:22:02 AM
From: long-gone	Respond to of 116752

Thursday April 5, 7:55 am Eastern Time Bank of England Cuts Interest Rate LONDON (AP) -- The Bank of England cut its key lending rate by a quarter of a point Thursday to 5.5 percent, citing concerns over the impact of foot-and-mouth disease and a global economic slowdown. The base rate, which is what the Bank of England charges other financial institutions, had been cut by a quarter point in February. ``While growth in final domestic demand has remained firm, there are downside risks to U.K. activity from the slowdown in the global economy, the fall in equity markets and, in the short run, from foot-and-mouth disease,'' the Bank of England said. The base rate helps determine the rates commercial banks charge for loans to businesses and consumers. A cut in the base rate makes loans cheaper and therefore stimulates borrowing and overall economic activity. biz.yahoo.com