Britain May Cut Rates to Tackle Slump

Economist say the Bank of England will be forced to cut interest rates next week to keep the recession from worsening

The British economy is probably already in recession and there is a growing consensus among economists that the Bank of England will be forced to cut interest rates next week, and possibly before, to prevent the financial crisis triggering a slump. Angel Gurria, the secretary general of the OECD, the international club of developed economies, said yesterday: "We are facing the worst financial crisis since the Great Depression."

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