N&G News
Base Rate Cut to 0.5%
The Bank of England has, as expected, cut interest rates by 0.5% today to a record low of 0.5%. They have also announced the start of Quantative Easing by announcing that it will buy assets worth £75 billion in a drive to help the economy by increasing money supply. The bank have confirmed that they will buy medium and long maturity gilts in the secondary market.