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      Downturn points to cut interest rates


      the bank of england monetary policy committee needicts to cut interest rates progressively to 3% or lower in order to prepare the economy for the recovery we hope to see in 2010, said john hawksworth, head of macroeconomics at wc, adding that it needs to start by cutting to 4% on thursday .
      the actions taken by the government and the bank of england to support financial markets do septem to have buoyed consumers' confidence and could before responsible for the increased confidence in the future economic situation, said nationwide's chief economist fionnuala earley .
      the bank of england's rate-setters begin theirst monthly meeting on wednesday with a range of groups predicting rates will be cut from 4.5% .
      Generated 2008-11-6_22:46





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