Bank of England announces emergency interest-rate cut
The ECB, which holds its policy meeting on Thursday, is expected to join the growing wave of crisis easing with its own measures
11 March 2020 - 12:39
The Bank of England (BOE) has cut interest rates in an emergency move and announced measures to help keep credit flowing through the economy, saying the coronavirus outbreak will damage economic activity. UK stocks jumped
Governor Mark Carney and fellow policymakers voted unanimously to cut interest rates 50 basis points to 0.25%, and introduced a new scheme to ensure companies can easily and cheaply access credit. That is seen as a crucial crisis response if businesses are forced to shut because of the virus outbreak, which will hit cash flow and make it harder to cover bills, wages and other costs...
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