Responding to the Bank of England’s announcement that interest rates will be cut from 0.75% to 0.25% in the wake of the Coronavirus outbreak, BCC Director General Dr Adam Marshall said:

“Businesses will welcome the decisive action taken by the Bank of England to support the economy at this delicate moment.

“The Bank and UK financial institutions must now work together to ensure that these policy measures translate into real-world support for firms on the ground.

“We will want to see banks using new flexibilities to do everything they can to help businesses whose cash flow and prospects have been disrupted due to the impacts of Coronavirus.”