The Bank of England has slashed interest rates to 0.25% in an emergency move to protect the UK economy from the coronavirus outbreak

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As the Coronovirus pandemic takes hold across the UK, with health authorities reporting cases rising from 25 to 87 in a single day, and resulting in the UK's chief medical officer Prof Chris Whitty announcing that an epidemic in the UK was 'highly likely', Londoners pass-by Evening Standard headlines at Charing Cross in central London, on 4th March 2020, in London, England.

• Bank of England slashes interest rates in the UK to shore up the economy.
• Interest rates cut from 0.75% to 0.25%.
• The move comes ahead of a series of other emergency measures to be announced by UK Chancellor Rishi Sunak in his annual budget on Wednesday lunchtime.
• The UK government is under pressure to take further measures to tackle the crisis after UK Health Minister Nadine Dorries was diagnosed with COVID-19.
• Read the latest on how the coronavirus is spreading across Britain.
• Visit Business Insider's homepage for more stories.

The Bank of England has slashed UK interest rates from 0.75% to 0.25% in an emergency move to shore up the UK economy in the face of the coronavirus outbreak.

The move comes ahead of the announcement of UK Chancellor Rishi Sunak's annual budget on Wednesday lunchtime.

Sunak is expected to announce a series of measures to protect businesses which are already struggling due to the hit on economic confidence in the UK.

This is a developing story...

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