Governor Andrew Bailey tells the BBC he expects rates to continue falling, but “the course is a bit more uncertain”.

The Bank of England has cut interest rates by a quarter of a point to 4 per cent in a knife-edge vote that prompted investors to rein in their expectations for further loosening. In an unprecedented second vote by the Monetary Policy Committee,

With the MPC split over how to respond to an inflation rate that the BoE forecasts will soon be double its 2% target and a recent worsening of job losses, Governor Andrew Bailey and four colleagues backed lowering Bank Rate to 4% from 4.