ANKARA
The Bank of England (BoE) on Wednesday took measures to help U.K. businesses and households weather possible economic disruptions due to coronavirus.
In a special meeting, the bank's Monetary Policy Committee (MPC) decided to cut its bank rate by 50 basis points to 0.25% from 0.75%, the first time this has happened since August 2016.
The BoE also introduced a new term funding scheme with additional incentives for small-and medium-sized enterprises (SMEs) financed by the issuance of central bank reserves.
The committee also voted unanimously to maintain the stock of U.K. government bond purchases, financed by the issuance of