BREAKING: Bank of England cuts bank rate to 0.1%

The Bank of England has cut its base rate to 0.1% – warning the coronavirus pandemic will result in a “sharp and large” economic shock.

In This Story: Bank of England

The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government’s banker, and still one of the bankers for the Government of the United Kingdom, it is the world’s eighth-oldest bank.

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