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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.

For all media enquiries please telephone 0113 200 6470 or email media@redmayne.co.uk
UK interest rates slashed in emergency move
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