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Bank rate cuts hailed by papers Bank rate cuts hailed by papers
(about 2 hours later)
"Caving in" is how a number of the papers describe the decision by many high street banks to pass on to customers the cut in interest rates."Caving in" is how a number of the papers describe the decision by many high street banks to pass on to customers the cut in interest rates.
The Daily Mail is convinced the banks were "shamed" because of an "order" from Gordon Brown.The Daily Mail is convinced the banks were "shamed" because of an "order" from Gordon Brown.
The Sun agrees the banks "stopped dithering" and "bowed to pressure".The Sun agrees the banks "stopped dithering" and "bowed to pressure".
The Guardian quotes a senior banking source, who says this is the last time the banks would be "brow beaten", and any further cuts wouldn't be passed on.The Guardian quotes a senior banking source, who says this is the last time the banks would be "brow beaten", and any further cuts wouldn't be passed on.
Pensioner poundsPensioner pounds
The Daily Mirror says "banks have done little to improve their reputations", with some "searching for new tricks and scams to claw back the cost".The Daily Mirror says "banks have done little to improve their reputations", with some "searching for new tricks and scams to claw back the cost".
As the cut in interest rates hits savers, the Daily Express comes to the defence of pensioners who rely on interest on their savings accounts.As the cut in interest rates hits savers, the Daily Express comes to the defence of pensioners who rely on interest on their savings accounts.
It goes on to call on savers to be given "a fair deal".It goes on to call on savers to be given "a fair deal".
The Daily Telegraph says the best deposit account deals will be pulled or repriced within days.The Daily Telegraph says the best deposit account deals will be pulled or repriced within days.
Bruce Forsyth PMBruce Forsyth PM
There is much assessment of Labour's success at the Glenrothes by-election.There is much assessment of Labour's success at the Glenrothes by-election.
The Independent's Steve Richards describes Gordon Brown as "the Bruce Forsyth of British politics".The Independent's Steve Richards describes Gordon Brown as "the Bruce Forsyth of British politics".
Like the light entertainer, people are always dismissing him but he always bounces back. "He should never be written off", the paper says.Like the light entertainer, people are always dismissing him but he always bounces back. "He should never be written off", the paper says.
The Daily Telegraph cautions that while Labour has shored up its core vote, it is the recession that will be the battleground for the general election.The Daily Telegraph cautions that while Labour has shored up its core vote, it is the recession that will be the battleground for the general election.
The Obama effectThe Obama effect
There is still plenty of coverage on president-elect Barack Obama, with details of how long he spent talking to world leaders following his victory.There is still plenty of coverage on president-elect Barack Obama, with details of how long he spent talking to world leaders following his victory.
According to the Times, they are involved in what it calls Obama "one-upmanship". Gordon Brown managed a 10-minute telephone call, it says.According to the Times, they are involved in what it calls Obama "one-upmanship". Gordon Brown managed a 10-minute telephone call, it says.
The Guardian claims the Australian and Japanese prime ministers spoke with Mr Obama for a similar time.The Guardian claims the Australian and Japanese prime ministers spoke with Mr Obama for a similar time.
But, it adds, French President Nicholas Sarkozy was given half an hour. But, it adds, French President Nicolas Sarkozy was given half an hour.