The bank is projecting economic growth of 7.25% for the U.K. in 2021
The new currency would exist alongside cash and bank deposits
Monthly data indicated the economy began to bounce back in June
EU leaders are expected to endorse a financial aid package worth 540 billion euros
In addition to cutting the rate to 0.1%, the central bank said it was relaunching its monetary stimulus program
In addition to the rate cut, the central bank announced other emergency measures
The OECD has lowered its global growth forecasts by half a percentage point
The Bank of England referred the case to the Financial Conduct Authority
Business investment shrank by 0.5% amid Brexit fears
The bank forecasts economic growth of 1.3%—assuming the U.K. leaves the EU with a deal