BREAKING: Bank of England cuts rates to just 0.25%!

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As the coronavirus spreads central banks are back into action and the Bank of England decided to go into Fed’s footsteps by cutting rates by 50bps outside of the scheduled monetary meeting. This means that the main rate is at just 0.25%! The move is not totally surprising for the markets but nevertheless the pound declines. EURGBP has been moving sharply up and the nearest resistance is still a distant 0.91.

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