Six central banks - including the Bank of England - have cut their interest rates by half a percentage point.
The UK rate move - which had not been expected until Thursday - puts the interest rate at 4.5% from 5%.
The US Federal Reserve has cut rates from 2% to 1.5% and the European Central Bank (ECB) trimmed its rate from 4.25% to 3.75%.
The unprecedented step is aimed at steadying a faltering global economy and slumping stock markets.
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Wednesday, 8 October 2008
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