The Bank of England cut rates by 0.5% in an emergency coronavirus response, mirroring the Fed
Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.The Bank of England has cut its benchmark interest rate by 50 basis points in an emergency response to the growing uncertainty from the coronavirus outbreak.The BOE follows a similar move by the Federal Reserve last week, where it cut rates by 50 basis points in an emergency move.The Bank of England , the UK's central bank, cut interest rates by 0.
"Following the spread of COVID-19, risky asset and commodity prices have fallen sharply, and government bond yields reached all-time lows, consistent with a marked deterioration in risk appetite and in the outlooks for global and UK growth. Indicators of financial market uncertainty have reached extreme levels," the BOE said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank of England Cuts Interest Rates in Emergency Move to Combat Coronavirus CrisisThe Bank of England has cut interest rates in an emergency move to shore up the U.K. economy amid growing alarm over the coronavirus crisis. The Bank announced Wednesday morning it had reduced rate…
Read more »
Bank of England cuts rates in emergency move to counter coronavirus impactThe central bank has also announced a new term-funding scheme to support small and medium-sized companies.
Read more »
Coronavirus fallout and the oil-price war will push 2020 GDP into 'spitting range of a typical global recession,' Bank of America says | Markets InsiderBank of America lowered its global 2020 growth expectation to 2.2% from 2.8% on Tuesday, just two weeks after its last downward revision. The up...
Read more »
U.S. consumer watchdog charges Fifth Third Bank on opening phony accountsThe U.S. Consumer Financial Protection Bureau (CFPB) said on Monday it charged F...
Read more »
Drake opens up to Lil Yachty in Oprah drag for 'Oprah's Bank Account' music videohttps://www.youtube.com/watch?v=-eb4CtV8zTk Nearly nine years after The Oprah Winfrey Show ended, rapper Lil Yachty has thrown on a wig and some makeup for his 'Oprah's Bank…
Read more »
Wells Fargo Is the Crooked Bank That Will Never QuitIf corporations really were people, Wells Fargo would have been sent away by now.
Read more »