The Bank of England on Thursday held interest rates at 0.1% but said it stands ready to take further action should the economic crisis caused by the coronavirus pandemic continue to deteriorate.
and announced £200 billion of new quantitative easing, bringing its bond buying program to a total of £645 billion.
Last month's PMI readings plunged to record lows and the U.K. is expected to suffer its deepest economic downturn in living memory as a result of the coronavirus crisis. The British government will announce the outcome of its second review of lockdown measures on Thursday, after theAs of Thursday morning, the U.K. has recorded more than 202,000 cases of the coronavirus and more than 30,000 deaths.
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