Another drop in UK interest rates?

This is a speedy blog post.

The BoE MPC are currently debating what they should do with UK interest rates. Last month we saw a drop to 2% - this is the lowest they've ever been.

This month, following some more drastic rate cuts in the US and Japan, I think we'll see another cut. If it happens, it'll be the lowest UK interest rates have been ever. Ever. In over 300 years, since The MPC's started!

So what are they going to drop too - hmmm, I'd think that we'll see another substantial drop. Not as much as a full point, which would take them to 1%. I'm going to go for half point drop, taking us to: Chris Cathcart Wonga World Prediction: to 1.5%.

I'll update this post in 15 minutes, post the announcement with the implications of the decision.

EDIT: Confirmed. Rates down to 1.5%, its certainly is interesting times!