FTSE shares rise following announcement.
See also: Government unleashes 50bn bailout plan
The Bank of England has slashed interest rates by 0.5% to 4.5%, reports the BBC.
Other central banks, including The US Federal Reserve, which cut rates from 2% to 1.5% and the European Central Bank (ECB), lowered the rate from 4.25% to 3.75%.
Similar actions weres also taken in Canada, Sweden and Switzerland.
The news follows this mornings announcement of a £50bn government rescue plan for UK banks.
The rate cut saw positive signs for FTSE 100 companies.
HBOS was the leading riser, rising almost 60% at one stage, followed by the Royal Bank of Scotland, up around 30%.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
