Another useful essay from Economicshelp -
http://econ.economicshelp.org/2007/05/essay-effects-of-increased-interest.html
more advice on this - http://www.economicshelp.org/macroeconomics/toolkit.html
Video clip of Tejvan explaining the effect of a cut in interest rates -
http://www.youtube.com/watch?v=vt-soFYVoD8
Video clip of Tejvan explaining - will interest rate cuts help the economy?
http://www.youtube.com/watch?v=lOzNOOm_17o&list=UUBr2W3nb0jPSnommNbbpMAw&index=13&feature=plcp