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UK Drops Rates to 0.5%, Begins 'Printing Money'

Quantitative easing begins with $108B of new money

By Jason Farago, Newser Staff

Posted Mar 5, 2009 6:18 AM CST

(Newser) – The Bank of England cut interest rates today by 50 basis points to an all-time low of 0.5% and began a far more drastic process: quantitative easing, or "printing money." The Times of London reports that the Bank received permission from the... Read full story »

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United Kingdom • central bank • Bank of England • Alistair Darling • interest rate cut • quantitative easing

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UK Drops Rates to 0.5%, Begins 'Printing Money'

Quantitative easing begins with $108B of new money

United Kingdom • central bank • Bank of England • Alistair Darling • interest rate cut • quantitative easing

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More Newser Stories

UK Slashes Interest Rates to All-Time Low of 1.5%

50-point cut less than business groups had hoped for

Bank of England Governor Gets 2nd Term

King reappointed despite criticism over Northern Rock

Fed Joins 5 Central Banks in Shock Rate Cut

US, EU, UK, others offer 50-point reduction to reverse diving markets

Mortgage Crisis Spreads Across the Atlantic

UK housing prices plunge; chancellor acts to shore up market

UK Nationalizes Northern Rock

Bank takeover marks desperate move for British ministers

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