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Rate at 57 year low
The Bank of England has cut interest rates by one percentage point, from 3% to 2%, the lowest level since 1951.
The move, which followed a dramatic cut in November, has been welcomed by many commentators who said the cut should help the slowing economy.
Prime Minister Gordon Brown has urged lenders to pass on the cut to homeowners and business.
So far, only a handful of lenders have said they will pass on the cut in full to standard variable rate mortgages.
