Economics

BOE Cuts Rates to 0.1%, Restarts QE in Latest Virus Response

Move follows Fed, ECB action to stem economic fallout
Key rate now at what BOE said is probably zero lower bound

BOE Cuts Rate to 0.1%, Increases Bond Purchase Program

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By David Goodman and Jill Ward

March 19, 2020 at 2:46 PM UTC

Updated on

March 19, 2020 at 4:47 PM UTC

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The Bank of England cut interest rates to a record-low 0.1% and added 200 billion pounds ($230 billion) to its asset-purchase program in its latest emergency action to mitigate the economic impact of the coronavirus pandemic.