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Bank of England's emergency rate cut could have 'limited impact' - Business Insider

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'Limited impact': Here's what analysts are saying about the Bank of England's emergency rate cut

to historic lows on Wednesday in order to deal with the growing uncertainty caused by the outbreak of coronavirus.

"The idea is that lower interest rates should encourage spending as it costs less to borrow, while the Bank has also said it will relax capital rules for businesses, mimicking moves from other central banks including the Federal Reserve.

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