BOE surprises with rate cut to record low, £170b stimulus

London

THE Bank of England (BOE) has exceeded market expectations in its latest moves: it has not only slashed interest rates to record UK lows of 0.25 per cent, but also launched a £170 billion (S$300 billion) quantitative easing and lending programme to boost the post-Brexit economy. And it signalled that further measures are in the offing if the UK economy doesn't improve.

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