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Former Chancellor approves BoE's economic measures

George Osborne posted tweets in support of the interest rate cut. Credit: Jonathan Brady / PA Wire

Former Chancellor George Osborne has tweeted his approval for the Bank of England's (BoE) decision to cut interest rates and introduce other measures to support the UK's post-Brexit economy.

Osborne, who has been recognised for his work at the Treasury by former Prime Minister David Cameron with a Companion of Honour, called the BoE's announcement a "triple whammy".

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Banks have 'no excuse' not to pass on interest rates cut

High Street banks have "no excuse" not to pass on the Bank of England's cut to a record low 0.25% base interest rate to their customers, Governor Mark Carney has said.

Responding to a question from ITV News Economics Editor Noreena Hertz, Mr Carney also explained why he was "not a fan of negative interest rates".

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