Share Prices & Company Research


11 March 2020

UK interest rates slashed in emergency move

The Bank of England (BoE) has announced an emergency cut to UK interest rates in a bid to combat the Coronavirus outbreak.

James Rowbury, Investment Research Coordinator, Redmayne Bentley said:

“This morning’s rate cut announcement comes as no surprise to markets, who were expecting the Bank to follow its global peers in cutting the rate of lending. In a timely fashion, the cut comes as Chancellor, Rishi Sunak, delivers his debut budget to the Commons in a much better position to splurge on borrowing at a cheaper rate. He promises to unleash the largest rise in public spending for 30 years.”

Policymakers slashed rates from 0.75% to 0.25%, moving the rate back down to the lowest level in history.

The Chancellor is due to deliver his debut Budget Statement later today.

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UK interest rates slashed in emergency move
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