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Stories for January 8th 2009

• Thursday, January 8th 2009 - 20:00 UTC

  Bank of England cuts rates to lowest in 315 year history

  Bank of England on Thursday cut interest rates to 1.5%, the lowest level in its 315-year history, as it continues efforts to aid an economic recovery. The half percentage point reduction brings interest rates below 2% for the first time since the Bank of England was founded in 1694.

• Thursday, January 8th 2009 - 20:00 UTC

  Obama urges “drastic action” from Congress on stimulus plan

  US President-elect Barack Obama has called for “drastic action” to prevent the US economic situation worsening. In his first major policy speech since being elected, Mr Obama urged Congress to act quickly to pass his 800 billion US dollars stimulus plan.

• Thursday, January 8th 2009 - 20:00 UTC

  Brazil expects lower corn and soy crop because of drought

  Brazil's crops of corn and soybean has been downgraded from previous forecasts because of the persistent drought in the southern states, said on Thursday the country's Ministry of Agriculture.