Coronavirus: Bank of England cuts rates to 0.1%, ramps up bond-buying


The Bank of England cut interest rates to 0.1% on Thursday, its second emergency rate cut in just over a week, and promised 200 billion pounds of bond purchases in a fresh attempt to shield Britain's economy from the coronavirus outbreak. The BoE's Monetary Policy Committee voted unanimously for the cut to the benchmark rate -- which had been slashed to 0.

25% from 0.75% on March 11 -- and to restart purchases of government bonds and corporate debt for the first time since 2016. Total asset purchases will rise to 645 billion.

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