Bank of England Cuts Rates and Expands QE

Second rate cut in a week takes interest rates to a record low of 0.1% and comes as governments across the globe step up their response to the coronavirus crisis 

James Gard 19 March, 2020 | 3:31PM

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The Bank of England has cut interest rates to a new record low of 0.1% as governments across the world scramble to come up with an economic response to the coronavirus outbreak.

Announcing the decision, the Bank stuck to the line last week from outgoing Governor Mark Carney that the economic disruption from coronavirus will be shortlived: “The spread of Covid-19 and the measures being taken to contain the virus will result in an economic shock that could be sharp and large, but should be temporary.”

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James Gard  is content editor for Morningstar.co.uk

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