BOE set to cut rates for the first time in 7 years on Brexit backlash
July 11, 2016 at 11:41 AM EDT
In a bid to calm financial markets and shore up confidence after the U.K.’s Brexit vote, the central bank is widely seen as yanking its key interest rate to 0.25% from a current record low of 0.5%, where it has stood since March 2009.