Bank of England cuts interest rate to 0.1%

By Joey Gardiner2020-03-20T06:34:00

Coronavirus fears trigger rate cut to lowest ever level

The Bank of England has cut interest rates to their lowest ever level in a move that temporarily arrested the stock market freefall of the UK housebuilding industry.

The rate cut to 0.1% is the Bank of England’s second in a month in a bid to limit the deepening economic crisis triggered by the coronavirus pandemic.

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