This is a fascinating little fact:
The Bank of England on Thursday cut its benchmark interest rate by half of a percentage point to try to bolster the deteriorating economy amid calls for more government action.Lowest since the creation of the bank in 1694?! I found that really surprising and interesting. Holy guacamole!
Britain’s central bank reduced the rate to 1.5 percent, the lowest level since the creation of the central bank in 1694, and economists expect Britain to follow the United States in reducing the rate to close to zero by the second quarter of this year.