Bank of England cuts interest rates as construction looks for infrastructure answers in Budget

By Tom Lowe2020-03-11T06:00:00

Rishi Sunak’s Budget due this afternoon

The Bank of England has announced an emergency interest rates cut to 0.25% from 0.75% this morning in response to the global economic slowdown caused by the coronavirus outbreak.

The cut brings interest rates down to the lowest level since the aftermath of the 2016 EU referendum, and is the first emergency rate cut since the the 2008 financial crisis.

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