More than a month on, it is obvious the 11 September terrorist attacks on the US have profoundly cha...
More than a month on, it is obvious the 11 September terrorist attacks on the US have profoundly changed the economic outlook. The US economy is widely expected to fall into recession as industry retrenches and consumers react to rising unemployment and greater insecurity. Policymakers have already reacted to mitigate the impact by cutting interest rates and will cut further, if required, to avert a slump. In the UK, the Monetary Policy Committee (MPC) reduced interest rates by 0.25% to 4.75% in an unscheduled meeting on 17 September and by a further 0.25% at its scheduled monthly meeting...
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