Tag: EU exit

Bank of England cuts rates to record low on Brexit

LONDON, United Kingdom (AFP) – by Roland JACKSON The Bank of England on Thursday slashed interest rates to a record low 0.25 percent and announced a vast stimulus package to combat economic fallout from Britain’s looming EU exit. Policymakers voted unanimously to reduce rates by a quarter-point, the bank said in a statement after its latest meeting, cutting borrowing costs for the first time in more than seven years. The BoE also delivered a £170-billion […]