The Bank of England has cut interest rates to another record low of 0.5 per cent and confirmed plans to plough £75bn into the economy to boost bank lending.
The bank’s Monetary Policy Committee was widely expected to make the reduction and faced with few other measures to help the economy, plans to bolster money supply in the economy via quantitative easing, a method so far untried or tested in the UK.

But rather than effectively printing new banknotes, the central bank will buy assets including government securities (gilts) and corporate bonds.