With the Bank Of England announcing a massive 1.5% interest rate cut today, the hopes are that the recession will be less severe with more money in people's pockets.

The huge question is, how much of the cut will be passed on by the banks. Will they see the size of the cut and excuse to hoard more, or will they look longer term and realise that without money in customer's money will worsen the economy and reduce their profits going forward.

More relaxation on the credit market is key to sectors such as the motor and building sectors, to see a reduction in the mass redundancies looming.