Thank you for making this bank of even press conferences shut short notice.

It's why the bank is announcing today a comprehensive and timely package of measures to help UK households and businesses bridge across the economic disruption caused by Kobe 19.

These measures will help keep firms in business and people in jobs, and they will prevent a temporary disruption.

Such issues are likely to be most acute for smaller businesses, and this economic shock will affect both demand and supply in the economy.

That's why we're acting today.

The NPC is reducing bank rate by half a percent to not 0.25%.

This action will help support net cash flows of borders during the period in which economic activity is likely to be disrupted.