Rate cut BoE and ECB ( November 6)

LONDON – The European Central Bank and the Bank of England are both expected to cut interest rates Thursday as they face sharply lower growth prospects as a result of the world's financial turmoil.
There's even talk that the Bank of England may reduce interest rates by as much as a full percentage point for the first time since four cuts of that size in 1992-3 when Britain's economy was last mired in recession.
Most economists, however, expect both to follow the U.S. Federal Reserve's lead and cut by a half point, which would take their benchmark rates to 3.25 percent from 3.75 percent for the ECB and to 4.00 percent from 4.5 percent for the Bank of England.
Both central banks, which followed the Fed and other banks in a coordinated cut on Oct. 8, have been criticized in some quarters for being slow to respond the sharp economic slowdown this year given their prevailing fears about inflation. The European Central Bank actually raised rates a quarter point in July as inflation spiked sharply higher.