Market comment

Bank of England cuts rates ahead of giveaway UK budget


The Bank of England has cut rates to 0.25% this morning, alongside reducing the counter-cyclical capital buffer to zero and announcing a new term funding scheme. This comes ahead of Chancellor Rishi Sunak’s budget today, expected to push borrowing out to close to 3% of GDP, largely on higher capital expenditure, a significant stimulus that will help UK GDP growth in 2020 and 2021.

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Mar 11 2020, 08:05 GMT