Britain’s Chancellor hinted that the central bank was free to cut interest rates
Britain’s Chancellor of the Exchequer hinted that the Bank of England could cut interest rates again.
Alistair Darling signalled that the central bank was free to cut rates without fear of breaking its inflation targets, according to reports.
Across the Atlantic, the US slashed interest rates by half a percentage point to 1 percent.
It is expected that the Bank of England will make a cut to its 4.5% percent rate similar to that of the Federal Reserve.
The moves by both central banks are an attempt to stave off a deep recession.
