BoE on hold as early indicators point to rapid UK downturn

Bank of England
Bank of England
Photo: Juno Snowdon Photography

The Bank of England kept its main policy tools unchanged at its scheduled monetary policy meeting today (March 26), after a string of emergency actions in recent weeks.

The monetary policy committee voted unanimously to keep the policy rate on hold at 0.1% and continue with £200 billion ($240 billion) in purchases of sovereign and corporate debt. The BoE is also offering banks cheap funding if they lend to small businesses, and buying the commercial paper of larger firms. The central bank

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