World Tonight: Talks to halt recession

Evening Chronicle (Newcastle, England), Sept 3, 2008

BANK of England rate-setters were beginning their latest two-day meeting today under increasing pressure to stave off a looming recession.

But despite a stagnant economy, interest rates are likely to be held at 5% for the fifth month in a row as inflation concerns linger for the Bank's Monetary Policy Committee. The meeting comes a day after the Government unveiled a pounds 600m stamp duty cut for homes worth pounds 175,000 or less.