BoE slashes interest rates by 1.5%

[phykell]

I'm not sure what I think about this. I'm happy from a personal p.o.v. but I think if there was some debate about a 0.5% or a full point reduction, it seems a bit odd to go for 1.5%. To my mind, it would have been more prudent to withhold the further 0.5% for (say) a month down the road. As it is, their scope for further reductions is vastly reduced and I do wonder what sort of message this sends about the health of an economy that seems so reliant on something as abstract as mere perception.