Interest rates could be slashed to a historic low this week as the Bank of England attempts to bolster the wavering UK economy.
Bank governor Mark Carney is expected to announce an interest rate cut from 0.5% to 0.25% on Thursday, according to economists at Hargreaves Lansdown.
Analysts have forecast rates could be slashed further, to zero, in August.
Ben Brettell, senior economist at Hargeaves Lansdown, said: “Initially, August had looked more likely, but with economic data deteriorating and markets still nervous, it now looks probable the Monetary Policy Committee will adjudge that immediate action is warranted.”
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