Bank of England: What will the emergency action actually do?

What action has the central bank taken and how does this affect households?

Frasers Group plc (SDIPF)

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The Independent
Mike Ashley to step down from Frasers board
The retail magnate will remain the group’s controlling shareholder and will continue to act as an adviser to the board and senior management.
The Guardian
Mike Ashley to step down from Frasers Group board
Retail tycoon to remain as remain as the controlling shareholder of Sports Direct and House of Fraser owner
The Telegraph
Mike Ashley to travel the world after stepping down from Frasers Group
Billionaire Mike Ashley has stood down from the board of his retail empire to spend more time travelling, leaving his son-in-law in charge of Frasers.