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It was the day of coordinated policy moves in the UK, as both the Bank of England (BoE) and the government announced significant measures to counter the economic effects of the coronavirus. The synchronization aims to amplify the impact of the actions taken, with the BoE helping credit flow to companies and freeing up fiscal space (via lower interest rates), and the Treasury announcing targeted virus-related measures to help households and small businesses. After a decade in which central banks cut rates to record lows, while most European governments kept tight fiscal policies, the ongoing