If the country learnt anything about the economy on Thursday, it was that even the Bank of England’s most senior officials don’t know how to fix it.

Governor Andrew Bailey tells the BBC he expects rates to continue falling, but “the course is a bit more uncertain”.

Bank of England Chief Economist Huw Pill said on Friday inflation pressures were likely to weaken further but there was a risk that future interest rate cuts could be delayed if higher inflation partly reflected longer-term behavioural shifts.