"London moves while others await war

The Bank of England unexpectedly cut interest rates Thursday to the lowest level in nearly half a century, raising concern in financial markets that the strongest major economy in Europe faces unpleasant surprises as war in Iraq looms. . Analysts said the Bank of England might have acted with inside knowledge of unusual stress to the financial system, perhaps stemming from a sharp decline in stock prices; since Jan. 1, the FTSE 100 index in London has fallen nearly 9 percent, nearly double the drop in the Dow Jones industrial average during the same period."

More interest :-) and intrigue.

760 Also posted to: Home page . At: 10:18:52 PM  . .
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Other title(s) for this story: IHT: Surprise in England: Interest rates are cut

"Analysts said the dollar would weaken further relative to the euro, particularly if the United States were not able to muster support for its Iraq campaign, and proceeded without a United Nations mandate."

Interesting, the twists and turns of war.

759 Also posted to: Home page . At: 10:13:00 PM  . .
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Other title(s) for this story: IHT: A muddle for Europe's Central Bank