The Bank of England cut rates by 0.5% in an emergency coronavirus response, mirroring the Fed
Mar 11, 2020, 12:58 IST
The Bank of England, the UK's central bank, cut interest rates by 0.5 percentage points on Wednesday morning as part of an emergency response to the coronavirus.
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A public statement said: "At its special meeting ending on 10 March 2020, the Monetary Policy Committee (MPC) voted unanimously to reduce Bank Rate by 50 basis points to 0.25%"
Rates before the cut wre 0.75%.
This is a breaking story. Check back later for more developments.