UK poised for rate reduction

UK - The Bank of England faces pressure to cut interest rates tomorrow, May 9, as it begins its monthly two day meeting.

ARTICLE - The Bank of England's Monetary Policy Committee (MPC) meet to decide whether to alter UK interest rates. A surprise US cut last month has raised the chances of the MPC following suit in an effort to stave off recession.

The Confederation of British Industry (CBI) released figures on May 8 showing business confidence is continuing to fall sharply across the UK, addin

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