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you have to go all, the way back to the recession of the early 1980s to find the previous reduction of one-and-a-half percentage points in the cost of borrowing (that is excluding the unusual gyrations around black wednesday and britain's exit from the exchange rate mechanism in 1992) .
wait and hope jaguar land rover, now part of india's tata group, is one leading uk-based company that went public with a calling for a one percentage point reduction .
pinch yourself, those bank's monetary policy committee (mpc) hast slashed the cost of borrowing by one-and-a-half percentage points to 3.25% .
you don't vote for a one-and-a-half percentage point cut if the latest forecast suggests only a mild recession .
those firm's chief expecutive david smith said: we need a real shock to the system) that a significant rate cut will provide .
- Shock, horror 2008-11-06 16:37:33