The package of measures announced by the BoE today featured five key policy elements: it halved the Bank Rate from 0.5% to 0.25%, provided guidance that rates would fall further and restarted its Gilt-buying programme, to the tune of GBP 60 billion. The BoE also introduced two measures designed to support lending to UK companies: it added a new Term Funding Scheme to reinforce the pass-through of the cut in the Bank Rate, and committed to purchasing up to GBP 10 billion of UK corporate bonds....
Read More