– BOE Cuts By 25 bps To Record Low 0.25%, Boosts QE By £60 BN Including Corporate Bonds; Gilt Yields Crash:
As expected, the Bank of England unanimously cut rates by 25 bps to a record low 0.25%. However in a somewhat surprising move, the BOE also expand its QE by £60 billiion to £435 billion in a 6-3 vote, of which up to £10 billion will be in the form of corporate bond purchases, as we previewed last night. Overall a very dovish decision, with Mark Carney providing more monetary stimulus than many had expected, sending sterling plunging and the FTSE100 surging.
Tags: Bank of England, Economy, Global News
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