BoE to slash borrowing costs again in bid to spur growth

---

LONDON, Dec 3 (AFP): The Bank of England (BoE) will slash Wednesay British borrowing costs for a second month running in an bid to spur economic growth as the country teeters on the brink of recession, analysts said.
Also Thursday, the Eurozone is set for an unprecedented third interest rate cut in less than two months when European Central Bank (ECB) governors meet in Brussels, they said.
While all expect the BoE monetary policy committee (MPC) to reduce rates by a sizeable amount following a two-day meeting starting Wednesday, the exact outcome is uncertain after last month's record lowering.
"Opinion amongst economists is pretty evenly split between a 50 basis points cut and a 100 basis points cut," said Capital Economics analyst Vicky Redwood.
"Consistent with that, the markets expect a cut of around 75 basis points. We don't think that the MPC will see any reason to delay and believe that a 100 basis points cut is probably the more likely outcome."
Last month, the BoE slashed its key lending rate by a record 150 basis points or 1.5 percentage points to 3.0 per cent-the lowest level in more than half a century.