Bank of England plays down use of negative interest rates to aid recovery
by Richard Partington Economics correspondent from on (#58E9F)
Governor Andrew Bailey says policy has mixed results but will stay in Bank's toolbox'
Andrew Bailey has cooled expectations that the Bank of England will deploy negative interest rates in the immediate future, despite the sharp rise in coronavirus infections weighing on Britain's economic recovery.
Sounding the alarm over the growing risks to the economy, the Bank's governor said the hard yards are ahead of us" as a second wave spreads and stressed that some industries were suffering more than most. Obviously that does reinforce the downside risks we have in our forecasts," he added.
Continue reading...