Bank of England cuts rates to 0.25%

The focus for investors on Thursday was BoE’s rate decision. UK interest rates have been cut from 0.5% to 0.25% and the Bank of England has reported that they could go even lower if the economy worsens.

BoE has announced a range of measures to stimulate the UK economy, including a £100 billion scheme to force banks to pass on the low interest rate to households and businesses.

The Bank shares that it will also buy £60 billion of UK government bonds as well as £10 billion of corporate bonds.

Governor Mark Carney said there was scope to cut the interest rate further.

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