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11 March 2020

Bank of England reduces Bank Rate to support the economy for the first time during the pandemic

Introduced by

Bank of England

Targeted at

Businesses and households


Introduced on 11 March 2020. In place until next decision to change interest rate

Stated aims

To support businesses and households in response to the economic shock likely to be caused by the pandemic


The Bank of England cuts Bank Rate by 50 basis points to 0.25% and introduces new measures to support borrowing and market liquidity.


Bank of England news