Bank of England cuts interest rates from 0.25% to 0.1% amid coronavirus-sparked economic turmoilComments
- Copyright Tolga Akmen/AP
The Bank of England has slashed its key interest rate to 0.1%, its lowest-ever level, amid global economic turmoil sparked by the coronavirus pandemic.
The bank's Monetary Policy Committee says the unanimous decision is part of moves ``to meet the needs of UK businesses and households in dealing with the associated economic disruption.``
Thursday's rate cut came a week after the central bank cut its rate from 0.75% to 0.25%.