BoE launches broad Brexit response

Bank of England governor Mark Carney
Mark Carney: dismissed concerns the BoE was overreacting or acting before the data is clear

The Bank of England unleashed monetary easing across a range of fronts today (August 4), as the effects of the UK's exit from the European materialise in the economy.

The central bank cut its policy rate by 25 basis points to 0.25% and unveiled £60 billion ($79 billion) in additional UK government bond purchases. For the first time, it also chose to buy "up to" £10 billion in corporate bonds and created a new "Term Funding Scheme", designed to improve transmission.

Alongside the monetary policy

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