Focus on definites vital with economic outlook looking very uncertain

The UK economy faces many challenges during 2009 as we enter recession for the first time in many ye...

The UK economy faces many challenges during 2009 as we enter recession for the first time in many years. For those looking for rays of light, recent significant reductions in UK interest rates, combined with reductions in other household expenses as a result of deflation in primary commodities, should make household disposable income grow in 2009. Over the past two months, UK interest rates have been cut by 200 basis points, taking the headline rate to 3.0% from 5.0%. This adjustment to UK monetary policy should greatly benefit those on flexible-rate mortgages as well as those who are due...