BoE introduced a monetary stimulus package for the country
that has voted to leave the European Union including a 25bp cut in the
bank rate to 0.25%, a new Term Funding Scheme to reinforce the
pass-through of the cut; the purchase of up to £10bn of UK corporate
bnonds, an expansion of asset purchase scheme for UK government bonds of
£60bn. The central bank expects unemployment to start tapering off within
the three-year forecast horizon and much of the economy’s spare capacity
will have been ...