BoE slashes cash rate with “all guns blazing”

The Bank of England has cut its official interest rate by 25bps to 0.25%, a historic 322 year low. Markets had already priced in the reduction as well as an increase in the asset purchase programme but what was actually delivered by BoE chief Mark Carney was well in excess of expectations. What’s more, the statement accompanying the decision indicated “a majority of members expect to support a further cut...

read full story