Interest Rates At All Time Low

The Bank of England has cut interest rates again to their lowest level in history, 0.5%.
Today's cut is the sixth time that UK borrowing costs have fallen since October, when rates were still 5%, and is another blow for savers.

It will also create £75billion of new money and use it to buy government bonds and corporate debt over the next three months to boost the flow of money in the economy. The Bank has been given permission by Alistair Darling to spend a total of £150billion on asset purchases. The £75billion figure includes £50billion previously allocated to the Bank for asset purchases to restart credit markets.