Sunak met the leaders of the TUC, the British Chambers of Commerce and the CBI as the Bank cut interest rates to 0.1%, their lowest ever level, and launched a fresh 200bn money creation scheme.

The Bank cut interest rates to an all-time low and increased its quantitative easing stimulus package following further panic in financial markets over the handling of the coronavirus outbreak.

What are the limitations of the UK response to covid-19 lower interest rates