BoE

Facility will only be activated during episodes of ‘severe gilt market dysfunction’

Bank's MPC voted in favour of reducing current interest rate by 25bps in decision expected by markets

'Continued progress' on disinflation

Up to two cuts expected before year-end

Economy in recovery from mild technical recession last year

Contingent NBFI repo facility aims to tackle gilt market dysfunction

MPC voted 6-3 yesterday to keep interest rates steady

Fall from 6.7% is lowest since records began, according to ONS

MPC members narrowly voted to raise interest rates by 25bps after inflation fell

Highest rates since February 2008