Bank Governor Mark Carney press conference on interest rate cut

The press conference discusses the Bank of England's response to COVID-19, highlighting the challenges faced by the UK economy and the measures being implemented to support businesses and households. The Bank announces a comprehensive package to mitigate economic disruption, emphasizing coordination with government initiatives and continuity in policy. A significant measure includes reducing the Bank rate to bolster cash flows and confidence. The decisions are unanimous, focusing on aiding smaller businesses and addressing both demand and supply shocks.

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