Bank of England May Cut Rate to 5% to Avoid Recession

April 10 (Bloomberg) -- The Bank of England probably will cut its main interest rate for the third time since December as the worst housing slump since 1992 fans concern the economy is slipping into a recession, a survey of economists shows.

The nine-member Monetary Policy Committee, led by Governor Mervyn King, will lower the bank rate by a quarter point to 5 percent, according to 52 of 61 economists in a Bloomberg News survey. The rest forecast it will stay at 5.25 percent. The central bank announces the decision at noon in London.

Source: Bloomberg


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