The Bank of England has cut interest rates from 0.75% to 0.25% amid financial concerns over coronavirus
The Bank of England has announced a cut to its main interest rate from 0.75% to 0.25%. The pound fell one cent to $1.2830 after the announcement came. It said the rate cut was part of a ‘comprehensive and timely package of measures to help UK businesses and households bridge across the economic disruption that is likely to be associated with Covid-19.‘These measures will help to keep firms in business and people in jobs and help prevent a temporary disruption from causing longer-lasting economic harm.
Yup. Gonna have to get myself a higher-paying job. These saved pennies aren't going to appreciate any decade soon.
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