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Coronavirus | How will the new interest rates impact business?

How will the new interest rates impact business?

As the coronavirus outbreak continues to cripple the economy – financial markets have suffered losses of around 20% in global equity values over the past few weeks reports Sky News – The Bank of England has outlined an emergency cut in interest rates.

The announcement, according to the BBC, is to help shore up the economy, which saw the Bank reduce rates from 0.75% to 0.25%, taking borrowing costs back down to the lowest level in history.

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