BUSINESS Bank of England cuts interest rate to record low 0.1%

BUSINESS

Bank of England cuts interest rate to record low 0.1%

AFP

23:10, March 19, 2020

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The Bank of England cut its main interest rate to a record-low 0.1 percent from 0.25 percent on Thursday, in a move aimed at stemming the economic fallout from the coronavirus pandemic.

The announcement came only eight days after the BoE had already slashed borrowing costs to 0.25 percent from 0.50 percent, also in an emergency move triggered by COVID-19.


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