The Bank of England (BoE) has reduced the UK base rate to a record low of 0.10% to combat the coronavirus pandemic.

The FTSE 100 ended the day at 5,173 up 1.83% after the Bank of England reduced interest rates to an all-time low of 0.10%.

It will be too early to see if the jump today will help the markets.

So how has the media reacted to the news?

Sky News

The Bank of England has cut its base rate to a joint-record low of 0.1% – warning the coronavirus pandemic will result in a “sharp and large” economic shock.

Evening Standard

The Bank of England has cut the base rate of interest to 0.1%. The drop from 0.25% is a further emergency move to shore up an economy shaken by the coronavirus pandemic.

BBC News

The Bank of England has cut interest rates again in an emergency move as it tries to support the UK economy in the face of the coronavirus pandemic.

The Guardian

The Bank of England has cut interest rates to an all-time low of 0.1% and increased its quantitative easing stimulus package following a panic in financial markets over the handling of the coronavirus outbreak.