BoE launches package of Covid-19 response measures

Bank of England
Photo: Juno Snowdon Photography

The Bank of England cut interest rates back to historic lows and unveiled a broad set of additional measures on March 10, following an emergency meeting of all its main policy committees in response to the Covid-19 outbreak.

The monetary policy committee (MPC) voted unanimously to cut the key bank rate by 50 basis points to 0.25%. The financial policy committee agreed to cut the countercyclical capital buffer (CCyB) to zero, from 1%, freeing up an estimated £190 billion ($245 billion) of

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