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BoE cuts interest rate to a record-low 0.25%

The Bank of England has cut its key interest rate by 25 basis points to a record-low 0.25%, moving to cushion the blow of the UK’s planned withdrawal from the EU. The central bank says it will lend as much as £100 billion to banks, among other stimulus measures.

In the same time, the bank plans to buy £10 billion of high-grade corporate bonds and expand its government bond buying program.

Bloomberg (8/4)