The Bank of England has cut Britain’s base interest rate from 0.75 per cent to 0.25 per cent, equalling the country’s lowest rate, in a bid to bolster the economy against impact of coronavirus.
The bank also promised to support businesses through billions of pounds of additional lending.
Chancellor of the Exchequer Rishi Sunak, is scheduled to announce more measures to mitigate the economic impact of the coronavirus outbreak in a budget statement to parliament on Wednesday.
Britain had confirmed 382 Covid-19 infections by Tuesday, including six deaths.
