Stories for November 6th 2008

Thursday, November 6th 2008 - 20:00 UTC
PM Brown tells banks lower rates must benefit consumers

The Bank of England slashed interest rates to a 53-year low in a dramatic attempt to rescue the UK economy from deep recession. The 1.5 percentage points cut by the Bank's Monetary Policy Committee (MPC) on Thursday is the biggest single move since March 1981 and brings rates to levels not seen since 1955.
Thursday, November 6th 2008 - 20:00 UTC
ECB admits further rate cuts; claims of “too little, too late”

The European Central Bank cut interest rates by 50 basis points to 3.25% on Thursday and signalled another reduction was possible next month, as inflation pressures ease and the Euro zone faces its first recession.
Thursday, November 6th 2008 - 20:00 UTC
IMF: support efforts “take time”; fiscal stimulus needed

The International Monetary Fund World Economic Outlook (WEO) says prospects for global growth have deteriorated over the past month and will slow from 5% in 2007 to 3.75% this year and just over 2% in 2009.
Thursday, November 6th 2008 - 20:00 UTC
Anticipated success for 09 Dakar Rally in Argentina/Chile

Organizers of the Dakar Rally, to be held next year for the first time in Argentina and Chile, following suspension because of terrorist threats in Africa, confirmed a record number of pilots: 530, the highest since 1988. The list includes car, motorcycle, truck and four wheeled cycle pilots.

PM Brown tells banks lower rates must benefit consumers