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The bank said the cut was based on a slowdown in inflation and that the move was aimed at helping revive economic growth, vital as the country looks to avoid defaulting on its debts.

The 20 pound note is the third to be made of durable polymer material rather than paper, following the launch of new five pound and 10 pound notes in 2016 and 2017.

The one-year loan prime rate (LPR) was lowered by 10 basis points to 4.05% from 4.15% at the previous monthly fixing.

SAN FRANCISCO (Reuters) – Google (NASDAQ:GOOGL) is planning to move its British users’ accounts out of the control of European Union privacy regulators, placing them under U.S. jurisdiction instead, sources said.

BRUSSELS (Reuters) – European Union leaders will clash this week over the EU’s 2021-2027 budget as Britain’s exit leaves a 75 billion euro ($81 billion) hole in the bloc’s finances just as it faces costly challenges such as becoming carbon neutral by 2050.