MPC to discuss further rates cut

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.