Bank of England
November 6th, 2008 8:23 am | by John Jansen |The Bank of England unexpectedly slashed rates by 150 basis points. Here is a link to the statement which accompanied the action and which is an unusually forthright explanation of the gravity of the current situation.
9 Responses to “Bank of England”
By Alex on Nov 6, 2008 | Reply
2 yr yield +19 basis points.
By Alex on Nov 6, 2008 | Reply
-19 (typo)
By John Jansen on Nov 6, 2008 | Reply
Why?
By franko on Nov 6, 2008 | Reply
more confirmation that we are in epochal times – all the old rules/norms/expectations are under consideration – therefore equity valuations are suspect, moreso than debt
By John Jansen on Nov 6, 2008 | Reply
I thought I was the only one who made typos!
By Alex on Nov 6, 2008 | Reply
I think the prospects of a short, sharp recession are waning.
By John Jansen on Nov 6, 2008 | Reply
http://dictionary.weather.net/dictionary/protracted
By Torp on Nov 6, 2008 | Reply
Not much of a surprise in my opinion as best exemplified by the action in the Euro for the past several weeks. Europeans will play catch up for months to come after indulging themselves in the false belief that their financial institutions were somehow more “responsible and prudent” than American institutions and that their economy was on firmer ground.
Not really…
By will pos on Nov 6, 2008 | Reply
I sorely remember the last moves this big on a sunny wednesday in 1992 (reversed the next day) when rates went from 10% to 12% to 15%. Are large moves not usually a function/consequence of panic? Am I also the only one who fears the shadow of political pressure over this decision?