The Bank Rate is the rate at which a country’s central bank lends to commercial banks in that country. So it is the rate that other banks in that country use to decide their own lending and borrowing rates.
The Bank of England (BoE) is keeping the Bank Rate at 0.1 percent, in its effort to meet the two percent inflation target and to help sustain growth and employment at a time of extreme economic and financial impact from the COVID-19 pandemic.
With many people now working from home due to the coronavirus, some two thirds of employers in a recent survey say that homer workers are more or as productive as when they were in the workplace.