Interest rates cut again in face of pandemic

Just eight days ago the rates were cut from 0.75% to 0.25%.

The Bank of England has cut interest rates from 0.25% to 0.1% in a further emergency move to shore up the UK economy, which has been shaken by the coronavirus pandemic.

Just eight days ago the rates were cut from 0.75% to 0.25% to help households and businesses rocked by the epidemic.

That reduction was the first cut since August 2016 and the first unplanned rates decision since the 2008 financial crisis.

Interest rates are now believed to be at their lowest level in history.

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