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UK and Euroland rates cut by 0.5 per cent

The Bank of England has cut its base rate by 0.5 per cent to 4 per cent, its seventh cut this year, bringing rates to their lowest level for 37 years.

The European Central Bank also cut rates by 0.5 per cent to 3.25 per cent.

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Brown&#39s pre-budget report on November 27

Chancellor Gordon Brown will announce today he will deliver his Pre-Budget report in two weeks time on November 27. It is expected Brown will provide more details about the savings gateway and the child trust fund on the day.

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