Coronavirus: Bank of England makes emergency interest rate cut
by Phillip Inman, Richard Partington and Mark Sweney from Economics | The Guardian on (#50HKP)
Fears for UK economy grow as January GDP growth flatlined before Covid-19 hit Europe
The Bank of England has cut interest rates in an emergency move to bolster the economy during the coronavirus outbreak.
The monetary policy committee voted unanimously to slash the bank rate from 0.75% to 0.25% at its first unscheduled meeting since the depths of the 2008 financial crisis as part of a coordinated package of measures alongside Rishi Sunak's budget.
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