Interest Rates: It's A Game Of Three Halves

As widely expected the BoE has cut UK interest rates in half, by a half to a half.

The UK base rate is now a historic all-time low of 0.5 percent.

It's much-quoted quantative easing measure is to buy assets worth £75-billion, effectively by printing more money.

The pound fell to an intra-day low of $1.4042 on the news.

The European Central Bank is expected to follow suit and also cut rates by a half percent later.

Meanwhile UK house prices fell by another 2.3% in February in the UK, according to HBOS, making the average UK home now worth £160,327.