Carney: Bank of England could cut interest rates to zero, but not below

Bank governor dismisses setting negative interest rates even in the event of an economic downturn

The Bank of England could cut interest rates to zero, but will seek to avoid following Sweden, Denmark and the eurozone by setting negative rates to bolster growth and inflation.

Mark Carney, the Bank's governor, said Threadneedle Street had "no intention and no interest" in implementing negative interest rates and would adopt the full range of the Bank's other powers to deal with a downturn in the economy.

Related: Negative interest rates: what you need to know