Bank of England cuts rate and slashes growth forecast

Further stimulus measures part of plan to deal with Brexit fall-out

4th August, 2016
Bank of England may lower rates further Pic: Getty

The Bank of England has cut its key interest rate for the first time in more than seven years and will restart the printing presses as it ramps up defences against a Brexit-induced slump.

Officials, led by Governor Mark Carney, slashed their growth forecasts and voted unanimously to reduce the benchmark rate by a quarter of a percentage point to a record-low 0.25 per cent. Sterling slipped after the announcement, with the euro trading at...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month, €19.99 Monthly thereafter

Get basic

*New subscribers only

You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

Analysis: Communications own goals doomed European Super League to failure

Analysis: Debt didn’t cause Super League fiasco but it accelerated it

Sport Emmet Ryan 19 hours ago

Susan O’Keeffe: It will take the actions of millions worldwide to truly eliminate racial hated

World Susan O'Keeffe 1 day ago

Analysis: Football’s super rich can get even richer if they allow the middle class to prosper

Sport Emmet Ryan 1 day ago