IHT: Surprise in England: Interest rates are cut

"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.

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