The Bank of England's monetary policy committee kept interest rates at their record low of 0.1 percent. Previous NextThe Bank of England (BoE) has expanded its virus crisis support by £150 billion – warning that the return to lockdown will cause fresh economic damage, Sky News reports. It allows the bank to release cash into the economy to support everyday activities. It believed that gross domestic product (GDP) would fall by 11 percent in 2020 as a whole. The bank also upwardly revised its projections for the virus crisis hit to employment.

Source: The Standard November 05, 2020 10:07 UTC