Thursday

29th Sep 2016

Ticker

Bank of England cuts rates to boost economy

Global and British stock markets rose and pound sterling dropped on Thursday after the Bank of England cut interest rates to just 0.25 percent, the lowest level in the 322-year history of the bank, and embarked on a new round of money printing. Bank governor, Mark Carney, said he had unleashed an "exceptional package of measures" because of the economic stagnation likely to result from the Brexit vote.

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