Carney Ready to Cut Rate Again After BOE Eases on Brexit Fallout
- Officials voted 9-0 to cut rate, split on bond-buying plans
- Majority of officials expect to take rate lower this year
BOE's Carney: Steps Taken Due To Markedly Changed Outlook
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Mark Carney unleashed a package of stimulus, including the Bank of England’s first interest-rate cut in seven years, and said more easing could come as Britain feels the effects of its decision to leave the European Union.
Officials led by the BOE governor voted unanimously to reduce the benchmark by 25 basis points to a record-low 0.25 percent. They split over other elements of the plan that will expand the central bank’s balance sheet by as much as 170 billion pounds ($223 billion) via purchases of gilts and corporate bonds and a lending program for banks.