BoE interest rate cut – live

The Bank of England has cut interest rates for the first time since 2009, as it calibrates its response to the Brexit vote.

The BoE also boosted its quantitative easing programme, expanding its bond buying to the corporate debt market.

Key points

  • BoE in 25 bps cut, taking benchmark rates to 0.25 per cent

  • BoE will expand QE with an extra £70bn

  • Bank will also extend QE to buy corporate bonds

  • Mark Carney calls Brexit vote a “regime change”, expects unemployment to rise

  • MPC votes 9-0 for rate cut, 6-3 for QE expansion

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