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Bank rate is reduced to 3.5% as Chancellor 'fortifies currency'
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Newspaper Article
Bank rate is reduced to 3.5% as Chancellor 'fortifies currency'
2012
Overview
\"This change had been made to take account of technical developments since the bank rate was last raised and to ensure that the rate did not get out of touch with market rates,\" he said. \"It was a further step towards freedom and flexibility in interest rates. \"Although our position was better than when money rates were raised at the end of 1951 and in March 1952, today''s adjustment did not imply that we were yet out of rough water or that we could relax our efforts.\"
Publisher
Independent News & Media
Subject
