Ten take-aways from the BoE's 'bazooka' announcement

Natalie Kenway
clock • 2 min read

Investment Week rounds up the key points after yesterday's rate cut by the Bank of England, and the introduction of what one economist dubbed its "bazooka surprise".

1. Interest rates were cut by 0.25% in a widely expected move, in the Bank of England's first rate adjustment since March 2009. The MPC voted unanimously in favour of the decision. 2. Although there were indications of further cuts, Carney has ruled out negative rates saying the lower bound range will remain positive. 3. In addition, the BoE announced a three-part £170bn stimulus package which includes £60bn in more government debt buying, £10bn in corporate bond purchases and up to £100bn towards the new Term Funding Scheme for banks. 4. Extending the existing £375bn asset purchas...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Economics

Trustpilot