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Tuesday, August 26, 2008 

The Bank of England may cut U.K. interest rates

The Bank of England may cut U.K. interest rates this year, to protect the economy from recession, despite the rise in the rate of inflation. The British economy stagnated in the second quarter of the year. According to some economists contacted by Bloomberg, the Bank of England will lower the interest rate of the country, currently about 5%, to protect the economy from recession. Economic growth may well become the main concern of the central bank governor, after the economy has given clear evidence of stagnation in the second quarter of this year. Economists predict that the bank will finally lower its interest rates, although the rate of inflation has reached the 4.4% in July, more than twice the limit of 2% set by the central bank.

AC

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