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Bank of England slashes interest rates #UK

UK interest rates have been cut from 0.5% to 0.25% and the Bank of England has signalled that they could go lower if the economy worsens.The Bank announced a range of measures to stimulate the UK economy, including a £100bn scheme to force banks to pass on the low interest rate to households and businesses.

It will also buy £60bn of UK government bonds and £10bn of corporate bonds.

Governor Mark Carney said there was scope to cut the interest rate further.

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