Bank of England steps up negative rate work as economic risks rise
The BOE holds its benchmark rate at 0.1% for now, and the bond-buying programme at £745bn
17 September 2020 - 18:48
London — The Bank of England gave the clearest signal yet that it may consider cutting interest rates below zero for the first time in its history as the economy faces a surge in coronavirus infections and the risk of a no-deal Brexit. The pound fell.
With multiple threats to the outlook looming, the BOE will begin “structured engagement” with UK bank regulators on how it might implement negative rates. Governor Andrew Bailey said in August the policy has become part of the central bank’s toolkit...
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