andrew walkerjoins us andrew walker joins us from andrew walkerjoins us from our business news room.rew, the uk central bank has made its move, what will the impact be? the aim is to tide over households and businesses, what the bank says is likely to be a large, sharp but probably temporary shock. it's particularly concerning that this is a point that has come out repeatedly in the statement it hasissued, out repeatedly in the statement it has issued, the impact on small businesses. these are firms who may, in principle, be perfectly viable as businesses but are likely to see a sudden and sharp drop in their revenue. people are not going to cafe is, for example, or there are disruptions to deliveries of goods and so forth. but they may still have bills to pay, the rent, taxes, and perhaps we will hear something late on about some sort of indulgence from the treasury on the payment of taxes, but there will be businesses with very severe cash flow problems. and the bank is particularly concerned to ease their problem. partly with lower interest rates, which would reduce the cost of an

here's economic correspodent andrew walker on the sweeping intervetion by the fed.ny highlighted something else which is the concern they had for some time about how much ammunition central banks have left. we now have interest rates in most left. we now have interest rates in m ost pla ces left. we now have interest rates in most places that are just about as low as they can go and it could go below zero, some banks have done it, but not very far in their real concerns of how effective it is going to be. so one of the concerns is that what can they do next, if things get any worse, there are some options and buying financial assets with newly created money, but again, there are certain amounts of skepticism is about how effective they can be. the other thing worth mentioning over the weekend is that there were other elements in terms of the health crisis itself and more shutdowns more borders being closed which in themselves suggest the possibility of more economic damage and correspondingly, more damage to the markets. the federal reserve is looking at this crisis

here's our economics correspondent, andrew walker. market. people do by stakes and investment funds and also there is their pensions. if you have an occupational pension run by your employer, it almost certainly will invest at least some of the money in the stock market for some not exquisitely, some of it will investing company get but company shares are a very important part of it. and if you were to have a sustained period of poor performance, than the pension fund might have a problem which it might need to deal with either by reducing the pension benefits that the members get or by asking for more contributions from the members who are still in work or from their employers. there may be some people watching thinking that it has been a dramatic tapered markets go down and they go up, when would we know if this is actually a slightly fundamental reset? that is the kind of thing you can only reallyjudge with the benefit of five it's a probably several years of hindsight. i think what would drive it more than anything else is how qui

extra special thanks to andrew joelvet, helen walker from central house and julian zabori. thanks ifs to paul hona to my office, i believe this might have been the first piece of legislation that he worked on and poured his heart and soul noochlt we n tomorrow. can we take a roll call? >> on the call, calling kol. [ roll call r. [ roll calo. [ roll call. [ roll call. [ roll call ]. >> motion passes. this matter will be referred as a committee report as recommended to the board meeting. >> thank you so much. and there clerk are there any other items? ? >> clerk: that completes the agenda for today. >> thank you. the meeting is adjourned. thank you, everyone. >> thank you. >> roughly five years, i was working as a high school teacher, and i decided to take my students on a surfing field trip. the light bulb went off in my head, and i realized i could do much more for my students taking them surfing than i could as their classroom teacher, and that is when the idea for the city surf project was born. >> working with kids in the ocean that aren't familiar with this space is rea