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Interest rate cut expected for Christmas.

TEN MILLION homeowners can look forward to a Christmas bonus tomorrow.

Bank of England boss Eddie George is expected to cut interest rates - possibly by as much as 0.5 per cent.

And that would be enough to trigger cheaper mortgages.

Experts believe last week's rate cuts in Europe and more signs of economic slowdown here make a reduction inevitable.

Figures this week reveal a slump in shop sales and further falls in factory output.

The City is betting on a cut that will push share prices up.

The pound hit a four-week low against the German mark and a low for the week against the dollar, clear signs that the markets expect a cut.
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Publication:Daily Record (Glasgow, Scotland)
Date:Dec 9, 1998
Words:115
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