Interest rate slashed, stocks tumble: What next? on 100 Mortgages

Despite the Bank of England cutting its base rate by 1.5 percent the lowest level since 1955 and the European Central Bank cutting key lending rate by 0.5 percent, stocks across Europe tumbled, with London’s FTSE 100 losing 5.63 percent to close at 4275.72.

Frankfurt and Paris saw a sell-off with the DAX down 6.97 percent and the Cac 40 down 5.92 percent despite the eurozone reduction.

Following the BOE rate cut a statement was read out saying that there had been a “marked deterioration” in economic conditions.

With the US Presidential Election causing Euphoria around the world, sadly the global economic crisis is still here and the world’s economy is still struggling.

Economists predict that the interest rate cut from the Bank of England could be too much too late, and warn that we may have further cuts some even say taking the interest rate to zero.

Source: moneyhighstreet

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