Bank of England slashes interest rates to new historic low of 0.1%

The Bank of England cut interest rates to a new historic low of 0.1 per cent on Thursday amid the UK’s growing Covid-19 economic crisis.

The central bank will also buy £200bn more UK bonds, restarting its Quantitative Easing policy.

The Bank’s Monetary Policy Committee voted unanimously for the emergency action to support the British economy.