The widely expected and predicated news in the UK that the BOE (Bank Of England) would keep interest rates at 0.5%, was confirmed earlier this afternoon, leading some to think about what the next steps are to fighting our way out of the recession. Realistically, there can only be on further rate drop, which would take us to a record low and leave interest rates at 0%, something none of our generation would have seen before.

Ladies and gentlemen, the Vice-President and I are very pleased to welcome you to our first press conference of 2009. Let me therefore wish you all a very Happy New Year. I would also like to take this opportunity to welcome Slovakia as the 16th country to adopt the euro as its currency. Accordingly, Mr Šramko, the Governor of Národná banka Slovenska, became a member of the Governing Council on 1 January 2009.

Today the European Central Bank governing body has cut the key interest rate bank rate bringing it down to 2 percent. This is done with the hope of stimulating the EU economy by making money more available in the market.

The Bank of England’s Monetary Policy Committee today voted to reduce the official Bank Rate paid on commercial bank reserves by 0.5 percentage points to 1.5%. RFERL says Bank of England has not seen interest rates these low since the 17th century.

Japan's central bank has slashed its key interest rate below one percent, while the government predicts the nation's economy will experience zero growth through 2010. Yesterday I heard on TV that as U.S. is cutting the interest rates that will force the other economies to do the same and thus this is how the U.S. will have a soft landing against the inflation and loss of dollar value.

The Federal Reserve has decided to cut interest rates once again. The time the key interest rate was cut by 0.75 percent dropping it to 0.25 percent.

European Central Bank cuts interest rates by 0.75 percent - its biggest ever move and its third cut in two months. Major European interest rate cuts fail to rally world markets.

As markets worldwide continue to plummet, the Federal Reserve, along with six other major central banks from around the world slashed interest rates simultaneously Wednesday.

The Federal Reserve held interest rates steady at 2%, rebuffing some talk of another interest rate cut in light of the recent meltdown of Lehman and AIG. This was the first time in a year the vote by the FOMC was unanimous.

For some time now the Federal Reserve has been devaluing the currency and practically giving away American dollars through incredibly cheap money policy. We have just emerged from an era of one interest rate cut after another. The mortgage loan crisis, and the failure of Bear Sterns, made the Fed an interest rate cutting machine of fate that drove the value of our dollar ever lower and the price of oil into the stratosphere.

Ben Bernanke finally took notice of the dollar yesterday in a speech in Barcelona, Spain and indicated the end to interest rate cuts may be here

The Federal Reserve cut interest rates by a quarter point this afternoon in yet another (7th to be exact) attempt at saving an economy in free fall. The rate now stands at 2% less than half of what it was in September.