It is the 2nd cut in interest rates in simply over a week, bringing them down to 0.1%from 0.
Interest rates are now at the lowest ever in the Bank’s 325- year history.
Last week, the Bank announced a 0.5%cut in rates to 0.
The relocation comes as worldwide financiers are attempting to secure more money, in specific dollars. This means they’re dropping assets such as UK federal government gilts, which are the “IOU” notes the federal government hands over to private investors going to provide it money.
As the gilts are offered, the rate drops and the yield – the reliable interest rate compared to the price – rises. What th