Wow, back to 1954:
The Bank of England unexpectedly slashed the benchmark interest rate by 1.5 percentage points as policy makers tried to contain the damage caused by a recession.
The nine-member Monetary Policy Committee, led by Governor Mervyn King, slashed the bank rate to 3 percent. The move was predicted by none of the 60 economists in a Bloomberg News survey. The pound plunged as much as 1.1 percent to $1.5722.
Dollar rally should hurt Oil and Gold today . . .
Bank of England Slashes Key Rate by One Third to 3%
Bloomberg, November 6 2008