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(From Bristol Evening Post)
Bristol finance experts say the Bank of England's slashing of interest rates is good news for the economy - but terrible news for pensioners.
The shock one-and-a-half percentage point cut left the Bank's base lending rate at three per cent - the lowest level since 1955.
The size of the cut - the most dramatic since 1981- is thought to signal the Bank's fear the UK is heading for a long recession.
It follows an emergency cut in rates last month from 5 per cent to 4.5 per cent.
Borrowers on standard variable rate mortgages could see average monthly payments on a GBP150,000 mortgage fall by around GBP138 - …