UK base rate drops for second time in a week

UK base rate drops for second time in a week

Commenting on the latest base rate reduction to 0.1%, Karim Haji, Head of Financial Services KPMG UK says.


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“This is just the latest in a series of unprecedented actions and it will not be the last. The Bank of England is doing everything it can to ensure cash gets where it’s needed most as quickly as possible. Whilst the rate reduction will certainly be felt by the finance sector, the ramp up in quantitative easing, alongside other measures announced earlier this week, will ease the pain. No one could have predicted the outbreak of this pandemic and everyone is working furiously behind the scenes to try to minimise the impact and aid a swift recovery.”


Follow Karim on twitter: @Karimhaji16

For further information please contact:

KPMG Press office
Tel: +44 (0) 207 694 8773

Christina Bridge, KPMG Corporate Communications
07789 504905

Olivia Shalofsky, KPMG Corporate Communications
+44 207 3112370

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