MPC to discuss further rates cut

Press Association
Mervyn King
Mervyn King

Bank of England policymakers will debate whether to slash interest rates beyond current historic lows when they meet this week in a drastic move to boost the economy.

The Bank's Monetary Policy Committee (MPC) lifted levels of emergency support by £50 billion to £375 billion at its July meeting, while holding its base rate at 0.5%. But the outlook has darkened since the nine-strong panel last convened after figures revealed a larger-than-expected slump in output in the second quarter of the year.