Base Rate

Bank Base Rate Cut to Record Low, and More QE

The Bank of England has cut base rate to 0.25% today, from 0.5%, following a recommendation by the Monetary Policy Committee. In addition there will be more Quantitative Easing (QE) including the purchase of both Government debt and corporate bonds. These measures are aimed at avoiding a recession that Mark Carney otherwise believes is likely. The new interest rate is yet again a new historic low in UK interest rates, and of course bodes ill for savers even if it may keep ...
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