Going back you won't find that many interest rate cuts on a Wednesday, this one being expected more towards the end of the month but the Bank of England has cut interest rates by ½%, matching the US, just before the budget is announced by Chancellor Rishi Sunak.

It comes with an offer to fund small businesses to the tune of £100 billion at near bank rate, through the banking system over a four year period, to mitigate the highly damaging effect of the Coronavirus and measures being taken globally to inhibit the spread of it.

Other measures announced by the B of E are designed to give banks more freedom to lend, so hopefully they will respond and do so.