ECB and BOE Cut Rates

The seeds continue to be planted for a major global inflation.

The European Central Bank this morning slashed its main policy rate by an unprecedented three-quarters of a percentage point to 2.5%.

The Bank of England announced UK interest rates would be cut by a full percentage point to 2%. This is on top of a 150 basis point cut last month. Sweden's Riksbank meanwhile cut rates by a dramatic 175 basis points.