For more on the BOE rate decision, joining us in the studio is Liu Baocheng, dean of the Center for International Business Ethics at the Univ. of Int’l Business and Economics.

Q1. Will the BOE rate cut offset some of the short-term shock to the British economy after the Brexit vote?

Q2. But the UK's unemployment rate is even below 5 percent. Why was the cut necessary?

Q3. Now, many major economies have cut rates and issued quantitative easing. Is it already a de facto US interest rate increase?