What would a negative interest rate mean for UK consumers?

Bank of England is considering pros and cons of drastic move as Covid-19 weighs on economy

• Negative UK interest rates were once unthinkable. But tough times lay ahead

The Bank of England has voted to keep interest rates on hold at 0.1%, but the continuing Covid-19 pandemic makes the outlook for the economy very uncertain and the Bank is considering the pros and cons of taking the UK into negative interest rate territory for the first time.

Related: Bank of England says UK economy recovering faster than first feared