Bank Of England Cuts Interest Rates

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The UK's central bank has cut interest rates to a record low of 0.25%. It also unveiled new stimulus measures to deal with the fallout of the country's forthcoming exit from the EU. We analyse how the stimulus will work and also hear how the Bank of England is determined to persuade banks to pass on the rate cut to their mortgage customers. The fallout of the UK's decision to leave the European Union has been felt around the world. The US Federal Reserve has signalled that it might shelve plans to increase American interest rates. Irwin Stelzer, from the Hudson Institute in Washington, tells us how the economic impact of Brexit is being felt across the Atlantic. As interest rates fall investors are seeking ways of getting a better return and buying gold is looking more attractive. Demand for the precious metal is buoyant, as Mark Bristow, the chief executive of the West African mining company Randgold explains. Earlier this year, Nigeria's tomato crop was devastated by the disease Tuta Absoluta, an outbreak that was so damaging that the price of tomatoes surged. Nigerians had to cope with the fact that a staple food had become a luxury. We have a report from Ijeoma Ndukwe in Nigeria. (Picture: The Bank of England. Copyright Getty Images.)