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  1. Bank Of England Cuts Rate By 50 Bps, Unveils Funding Scheme For SMEs On Covid-19

    by , 03-11-2020 at 03:03 PM
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    The Bank of England unexpectedly cut its key interest rate and launched a new funding scheme for small businesses as it expects the UK economy to take a major hit due to the coronavirus, or Covid-19, outbreak. The Monetary Policy Committee unanimously voted to cut the bank rate by 50 basis points to a record low 0.25 percent, following a special meeting on March 10, the central bank said.

  2. Fed Announces Emergency Rate Cut In Response To Coronavirus Outbreak

    by , 03-04-2020 at 02:21 PM
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    Even with the next monetary policy meeting just two weeks away, the Federal Reserve announced a surprise move to enact an emergency interest rate cut on Tuesday in response to the economic risks posed by the coronavirus outbreak. The Fed announced that it has decided to lower the target range for the federal funds rate by 50 basis points to 1 to 1-1/4 percent.