The cut means the base rate goes down from 0.50 to 0.25 percent, which is the lowest level ever. It is the first time the Bank of England cut its key rate since 2009.
The British central bank announced today that it will inject billions of fresh pound into the UK economy to help avert a more severe economic downturn after British voters voted to take the country out of the EU.
– We live in a time of great uncertainty, says Governor Mark Carney.
One of the bank’s stimulus programs strengthened by 60 billion pounds, equivalent to nearly 680 billion Norwegian kroner.
Several analysts denotes grips that more extensive than expected. (© NTB)
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