Bank of England Cuts Interest Rate to Historic Low, Citing Economic Pressures
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“There is a clear case for stimulus, and stimulus now,” Mark Carney, the governor of the Bank of England, said on Thursday. CreditPool photo by Justin Tallis
LONDON — The Bank of England said on Thursday that it would cut its main interest rate to its lowest point ever and expand other measures to bolster Britain’s economy over concern that the country’s decision to leave the European Union could weigh on growth.
The move comes at a time of widespread uncertainty about the longer-term impact of the vote to leave the bloc, known as Brexit. It is unclear what Britain’s future trading relationship will be with the European Union, and crucially, how much access London’s prized financial services industry will have to the Continent. The referendum also unleashed a summer of political turmoil that led to a new government and to questions about the new leadership’s economic policies…
Bank of England Cuts Interest Rate to Historic Low, Citing Economic Pressures
