Bank of England Cuts Rate to 1% February-5th 2009

Bank of England cuts to low of 1 percent while European Central Bank stands pat at 2 percent
The European Central Bank halted its campaign of rate cuts on Thursday, leaving its benchmark refinancing rate at 2 percent, while the Bank of England cut by a half-point to a record low 1 percent as it combats a deepening recession brought on by the world financial crisis.