41. The bank has cut rates four times this year, most recently in August, to offset the effects of slowing world economies on Britain. 42. The bank cut rates four times this year to spur higher spending, helping to fuel the high rates of growth Chile registered in recent months. 43. The Australian currency had weakened recently amid expectations the bank would soon cut rates. 44. The bank cut the discount rate four times last year, each time by half a percentage point. 45. The bank then cut rates seven times. 46. The devaluation allows the bank to cut rates, as it did today. 47. The cutbacks come as banks and investment banks cut expenses and put expansion plans on hold this year as tumbling Asian currencies drag down markets from Mumbai to Manila. 48. The idea is that if the banks can cut their costs in this way, their profits will rise and they will pay additional taxes. 49. The mergers allow banks to cut their costs and increase profit margins. 50. The ministry relaxed the rules for Japanese banks because the banks cut lending to reduce their assets to meet the rules. |