Bank of England Holds Base Interest Rate at 0.1%

[Image source=EPA Yonhap News] Bank of England (BOE) located in London, UK

[Asia Economy Reporter Cho Hyun-ui] The Bank of England (BOE), the central bank of the United Kingdom, has decided to keep the base interest rate unchanged in consideration of the economic shocks caused by the spread of the novel coronavirus infection (COVID-19) and other factors.

The Bank of England's Monetary Policy Committee announced on the 26th (local time) that it had decided to keep the base interest rate at 0.1%. The 0.1% rate is the lowest level in the history of the UK base interest rate.

Previously, on the 20th, the Bank of England lowered the base interest rate by 0.15 percentage points from the existing 0.25% to 0.1%.