The bank will purchase another 150 billion pounds in bonds to shore up the U.K. economy as the country enters a second lockdown.
The rate cut is part of an "unexpectedly large" package of measures aimed at stimulating the U.K. economy in the wake of the Brexit vote.
BoE wants banks to keep lending and discourage insurers from dumping corporate bonds.
Britain's vote to leave the EU could put a dent in the Fed's plans to raise interest rates again this year.
The Bank of England expects the exchange rate of sterling to fall further, 'perhaps sharply,' if Britain votes to leave the EU.
The additional debt will go toward the financial cushion that banks must have to comply with new EU regulations.
IBM is considering adopting the 'blockchain' technology to create a digital currency that could be linked to a person's bank account, according to Reuters.
A study of the effects of high-frequency trading on U.K. stock prices claims to show that HFT firms make for a more efficient market.
Financial institutions will be first up in the countries' new series of war games designed to thwart cyber-crime.
Higher inflation may be needed to leave extra-low interest rates behind.
The race has officially started to become the next governor of the Bank of England, and some former CFOs, though long shots, are among the hopefuls.
