Investment Week, Professional Adviser's sister title, rounds up the key points after Thursday's rate cut by the Bank of England (BoE), 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 £375b...
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