Bank of England further reduces Bank Rate to 0.1% and votes to increase government and corporate bond holdings by £200bn
Bank of England
Businesses and households
Introduced on 19 March 2020. In place until next decision to change interest rate (maintained on 26 March 2020)
To support businesses and households in response to the economic shock caused by the pandemic
The Bank of England cuts Bank Rate by 15 basis points to 0.1% and votes to increase government and corporate bond holdings by £200bn. It reduces interest rates to support employment, borrowing, consumption and investment in the economy, and reduce the burden of debt repayments.
Bank of England summary
Bank of England summary – update on 23 March 2020