January 26, 2009
Results of the 26 January 2009 Term PRA Transaction for Private Sector Money Market Instruments
Results of today's term PRA operations.
The outlook for the global economy has deteriorated significantly since the October Monetary Policy Report. The financial crisis intensified last autumn and spilled over into an already weak global economy, which, in turn, put further strains on the financial system.
Erratum: In Table 1 Interest Rates, the column "Estimated variable mortgage rate" should read 5.65 per cent for 4 December 2007 not 5.25.