Bank of England cuts interest rate to 0.1%

(VOVWORLD) - The Bank of England on Friday announced an interest rate cut to an historic low of 0.1%.

The Bank of England's Monetary Policy Committee voted unanimously to cut the benchmark rate, which had been slashed to 0.25% last week.

The bank will also buy 230 billion USD of UK bonds in a bid to protect British bond markets from negative effects of the Covid-19 pandemic.

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