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Author: admin | Category: Loan Calculator Canada | Date: 06.08.2014

The Bank of England cut its key rate today and took a tough stance on putting money into the hands of consumers, but can it help real people any better than the U.S. The BOE slashed its rate to 0.25% as it tries to dampen a recession that economists had predicted following the vote by the United Kingdom to leave the European Union.
Britain's central bank trimmed the rate from 0.5% as signs of a weakening economy have bubbled to the surface. The bank also will buy 60 billion pounds of UK government bonds and 10 billion pounds of corporate bonds, bringing its total asset purchases to 435 billion pounds ($570 billion) . In addition, the BOE is prepared to make further cuts to its key rate, and it will lend directly to banks as it tries to create a trickle-down effect to help the broader economy.


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