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Thursday, January 08, 2009

A Piece Of History

Bloomberg's article on the Bank of England rate cut. At 1.5%:
The benchmark rate has never been this low since King William III founded the central bank to fund a war against Louis XIV’s France. The rate began at 6 percent and fell no lower than 4 percent throughout the 18th century.

Rate History

It touched 2 percent several times in the second half of the 19th century. The central bank held it at that level throughout World War II until 1951.
The lowest since 1694.

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