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Dec 1: Bleak data point to decisive Bank cut
The Bank of England is likely to cut interest rates in the UK by a significant amount when it meets this week as more data suggest the country is in a serious recession. Purchasing Managers' Index figures for November (compiled by CIPS/Markit) fell at the fastest rate from October to November since the survey began in 1992, and to a record low. Chris Giles, economics editor, tells Richard Edgar what the figures mean and what to expect from the Bank this week.