The Bank of England has moved to boost the UK economy in the wake of Britain's vote to exit the European Union. CCTV correspondent explains what the UK's central bank is doing to mitigate a possible economic slowdown.

Britain is a barging for overseas right now. The pound is at its lowest level against the US dollar for 31 years. But that's no consolation for the UK service sector. Growth slumps for 3-year low, according to a poll conducted before the Brexit referendum. Analysts say reveals where invest sentiment is headed.

Clarities in such short supply the commercial property investors who drove London real estate boom are now pulling out. That worries the central bank enough to cut the cash reserve that banks have to hold as a financial cushion against economic shocks.

It'll free nearly 200 billion dollars in potential lending in real estate and other business activities. But there are doubts over how much this will help.

"UK has entered a period of uncertainty and significant economic adjustment. The efforts of Bank of England will not be able to fully and immediately offset the market and economic volatility that can be expected while the adjustment proceeds," said Mark Carney, Bank of England Governor.

The Finance Minister says the result of so called "stress test" show UK banks are better equipped with stand what is likely to be a very rocky period for the UK economy.