Latest news - Global markets popped higher and pound has tumbled....
Bank of England cut rates to 0.25%
Plus
Plans to pump an additional £60bn in electronic cash into the economy to buy government bonds, extending the existing quantitative easing (QE) programme to £435bn in total
• Another £10bn in electronic cash will be created to buy corporate bonds from firms “making a material contribution to the UK economy”
• A new scheme to provide as much as £100bn of new funding to banks to help them pass on the base rate cut to the real economy. Under this new “term funding scheme” (TFS) the Bank will create new money to provide loans to banks at interest rates close to the base rate of 0.25%
