Brexit reaction by Bank of England brings UK in closer alignment to Europe but not in a good way

On August 4th, the Bank of England (BoE) cut its key overnight rate by half to a new record low of 0.25%, lower even than directly in the wake of the global credit crisis 8 years ago. This may be the first truly tangible and sustained impact on capital markets in the UK from the Brexit vote, and it is only the beginning.

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