The Washington Times - December 4, 2008, 08:50AM

Sweden and Britain made large cuts to their interest rates to deal with the global economic downturn, and Europe is expected to follow suit, Reuters is reporting.

Sweden cut its interest rate by 1.75%, down to 2%; the Bank of England cut its rate by 1%, also down to 2%.


The idea behind cutting interest rates is to make credit more accessible — but isn’t that what caused the crisis in the first place?