Britain | Interest rates
King's first cut
Interest rates fall by a quarter point
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MERVYN KING, the new governor of the Bank of England, has a reputation as a hawk. But within days of taking over from Sir Edward George, he has presided over a doveish cut in interest rates from 3.75% to 3.5%. This is the lowest rate for 48 years.
This article appeared in the Britain section of the print edition under the headline “King's first cut”
From the July 12th 2003 edition
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