That will bring the bank rate to the lower bound of 0.10%
This was talked about by Carney in the press conference yesterday, as to why they did not just cut rates to 0.10% and instead cut to 0.25%. His response was mostly to shrug off the question by saying that this was already a 'big, big package'.
There's still two weeks before the meeting and the situation in the market is extremely fluid. Let's take things one step at a time and see what happens with the Fed first.
