From statement: At its special meeting ending...>

BOE: From statement: At its special meeting ending on 10 March 2020, the

Monetary Policy Committee (MPC) voted unanimously to reduce Bank Rate by 50

basis points to 0.25%. The MPC voted unanimously for the Bank of England to

introduce a new Term Funding scheme with additional incentives for Small and

Medium-sized Enterprises (TFSME), financed by the issuance of central bank

reserves. The MPC voted unanimously to maintain the stock of sterling

non-financial investment-grade corporate bond purchases, financed by the

issuance of central bank reserves, at gbp10 billion. The Committee also voted

unanimously to maintain the stock of UK government bond purchases, financed by

the issuance of central bank reserves, at gbp435 billion. The reduction in Bank

Rate will help to support business and consumer confidence at a difficult time,

to bolster the cash flows of businesses and households, and to reduce the cost,

and to improve the availability, of finance.