Archive - August, 2016

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The BoE cut interest rates to a record low of 0.25% today as well as pumping £170bn of new money into the economy as a further stimulus package to prevent the UK falling into recession following the Brexit vote in June. The Bank’s Monetary Policy Committee unanimously voted 9-0 to reduce rates by 0.25% cutting borrowing rates for the first time in 7 years. Forecasts for the growth of the UK economy were cut by the biggest single amount since regular forecast have been…

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