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Friday, February 8, 2008

Bank of England cuts key interest rate

February 08, 2008
Britain's central bank cuts interest rates a quarter of a percentage point to 5.25% to boost slumping economy.

The Bank of England today cut rates for the second time in three months, lowering the benchmark rate by a quarter point to 5.25 percent.

The European Central Bank kept interest rates at a six-year high as policy makers focused on curbing inflation rather than supporting a weakening economy.
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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Wednesday, Apr 16
20:00 EIA Crude Oil Stocks Change 1 0.515M 0.400M 2.553M
20:00 BoC Press Conference 3
21:30 Fed's Hammack speech 2
22:30 20-Year Bond Auction 1 4.810% 4.632%
23:00 Fed's Chair Powell speech 3
Thursday, Apr 17
01:30 Total Net TIC Flows 1 $-48.8B
01:30 Net Long-Term TIC Flows 1 $35.2B $-45.2B
04:15 Consumer Price Index (YoY) 3 2.3% 2.2%
04:15 Consumer Price Index (QoQ) 3 0.7% 0.5%
04:30 Fed's Schmid speech 2
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