OREANDA-NEWS. The Bank of England has maintained the base interest rate at 0.1% per annum. Also, the limit of funds for the purchase of assets was maintained at the level of £ 645 billion, according to the regulator's website.

"The monetary policy committee unanimously voted to maintain the rate at 0.1%", the regulator said in a statement. It's also noted that the committee unanimously voted to continue the repurchase program of government bonds and corporate bonds for an additional £ 200 billion. The total volume of these purchases is £ 645 billion.

While it isn't possible to fully assess the exact scale of the economic shock from the coronavirus epidemic, the British regulator notes. "There is a risk of long-term damage to the economy, especially in the event of large-scale disruptions in business or a significant increase in unemployment", the report said.

It's likely that global GDP will fall sharply in the first half of this year, and unemployment is likely to grow rapidly in a number of countries, the regulator believes. The next meeting of the Bank of England is scheduled for May 7, 2020.