BREAKING : BOE cuts key rate by 50bps to 0.25% to tackle coronavirus, GBP/USD falls below 1.2900
The Bank of England (BOE) unexpectedly cuts its bank rate by 50bps from 0.75% to 0.25%, in a surprise move to cushion the blow of the coronavirus on the economy.
Additional headlines
~ Announcing policy measures to tackle coronavirus.
~ Will introduce new term funding scheme for small businesses.
~ Term funding scheme will offer 4-year funding over next 12 months.
~ Term lending will be available at or very close to bank rate.
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The Bank of England (BOE) unexpectedly cuts its bank rate by 50bps from 0.75% to 0.25%, in a surprise move to cushion the blow of the coronavirus on the economy.
Additional headlines
~ Announcing policy measures to tackle coronavirus.
~ Will introduce new term funding scheme for small businesses.
~ Term funding scheme will offer 4-year funding over next 12 months.
~ Term lending will be available at or very close to bank rate.
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