Bank of England Says Chance of an Additional Rate Cut
According to Bank of England Deputy Governor, the UK could be looking at another interest rate cut later in the year if the economy gets worse.
The announcement comes after the UK interest rate was cut to a record low of 0.25%, and the first drop since 2009.
It all depends on what happens to UK employment, the housing market, and business confidence.
The Bank also injected £100bn into the UK economy, which forces banks to pass on the low interest rate to borrowers, and bought £60bn of UK Government bonds and £10bn corporate bonds.