Bank of England cuts rates and expands QE
UK central bank cuts borrowing costs, expands quantitative easing and announces £100bn funding for lending scheme
The Bank of England (BoE) has cut interest rates for the first time since 2009, and expanded its stimulus measures, as it attempts to limit damage to the UK economy in the wake of Brexit.
Key interest rates have been cut by 25 basis points, from 0.5% to 0.25% – a record low and the first cut since the financial crisis. The BoE's monetary policy committee (MPC) signalled further reductions could be expected in the future.
The central bank has launched a fresh round of quantitative easing (QE)
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