UK interest rates slashed to 3%

This is a cut of 1.5% or 150 interest points.

"the lowest level since 1955.:
Source

Clearly the economic crysis has NOT stopped.

It seems to me that it just took a break for a day or two for the elections (US).

The dow lost 5% yesterday (-486 points) and the nasdaq lost 5.5%
Yahoo Economic News

Now, remember, as the US goes, so goes the rest of the world (like it or not).

Personally I see a few more free fall days in stocks sometime between now and january 09.

It's definitely not good news that interest rates have been slashed by 1.5%. Personally it makes me even more nervous than I already am. The EU rate has been cut too and is now at 3.25%.

I was just reading about the rate cuts on Bloomberg

"Economists said policy makers may lower the key rate again in coming months, and opposition politicians said the size of today's move suggested the economy is in bigger trouble than most people think.

``The cut today from the Bank of England is an indication of the seriousness of the crisis we're facing,'' George Osborne, who speaks for the Conservative opposition on finance, told broadcasters. ``It is a confirmation we are in a very deep economic hole.'' "

To expand on the economic crisis being fully international:

"Toyota , vying with General Motors for the title of the world's top automaker, cut its annual profit forecast by more than half after a terrible year so far.
It now expects a 68 percent plunge in net profit to 550 billion yen (5.6 billion dollars) -- the first drop in nine years."

"Japan's Nikkei stock index plunged 6.53 percent even before the Toyota warning"

"Seoul ended with a loss of 7.6 percent while Sydney shed 4.3 percent. Hong Kong shares were down 6.4 percent at midday."

"The euro dropped to 1.2854 dollars in Tokyo afternoon trade, down from 1.2962 late Wednesday in New York. The dollar fell to 97.70 yen from 98.33."
Source

It seems like this is far from over. to me.

Some more responces to economic crysis:

"While the Bank of England slashed its benchmark rate by 1.5 percentage points to 3.00 percent, its biggest cut since March 1981, the European Central Bank and the Swiss National Bank opted for more modest half-point reductions. The Czech Republic's central bank cut by three-quarters of a point."
Yahoo News

The US dow has started at about -10 points from the opening bell, but is bouncing up and down about 10 points.

Watch the stocks, for as the US stocks go, so will the stocks of ENgland and the rest of the world.

*6:56 AM (Pacific Standard Time) Dow down about 90 points and falling. (about 1%)

Nasdaq down about 1.5% (-23.63 points)

Any England ATS'ers please feel free to post your stock numbers as they come in, to continue this thread.

*7:03 AM Dow down 1.5% (-142.25)
Nasdaq dow 2.1% (-34.34

*7:35 AM Dow down 1.8%) (-164.31)
Nasdaq down (2.1%) (-37.38)

*7:46 Am Dow down 2.26% (-206.13)
Nasdaq down 2.4% (-40.86)

*8:27AM Dow down 2.9% (-262.28)
Nasdaq down 2.6% (-45.91)

*10:44 Dow down 4.9% (-444.49)
Nasdaq down 4.2% (-69.69)



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