BOE's Carney Cuts Rate for 1st Time in Seven Years

The transcript discusses the UK's economic adjustments post-referendum, highlighting the MPC's measures to manage change, including a reduction in Bank rate and asset purchases. It addresses the impact of sterling depreciation on exports and unemployment, and outlines the Bank of England's readiness to ensure monetary stability as the UK adapts to new opportunities outside the EU.

What are the potential consequences of exerting further downward pressure on domestic costs?

What actions is the Bank of England prepared to take in response to economic challenges?