Article 50HKP Coronavirus: Bank of England makes emergency interest rate cut

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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