bank of england's interest rate has been 0.5% for ages cos they cut it during the financial crisis, to encourage borrowing and investment

now that brexit vote happened, they've cut again to try and help the economy

but surely when a recession does actually hit they've effectively got no wiggle room whatsoever? realistically, is there any chance that interest rates will be back to normal levels by whatever point the economy needs a big boost?

and what difference is today's cut really gonna make, if any?

is the real story the extra QE etc. and will that just inflate certain asset bubbles?