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Bank of England governor says negative rates are in policy toolbox
By Lucy Meakin and David Goodman
Bloomberg News
Friday, August 28, 2020
The Bank of England has plenty of room to add more monetary stimulus to fight the U.K.'s economic slump, including negative interest rates if needed, Governor Andrew Bailey said.
"We are not out of firepower by any means," he said at the Federal Reserve's annual policy symposium, being held virtually instead of the traditional venue at Jackson Hole, Wyoming. "To be honest it looks from today's vantage point that we were too cautious about our remaining firepower pre-Covid."
... Dispatch continues below ...
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Since the pandemic struck, the Bank of England has unleashed a raft of stimulus measures, including slashing the benchmark rate to a record-low 0.1% and raising its asset purchase target to 745 billion pounds ($985 billion). ...
... For the remainder of the report:
https://www.bloomberg.com/news/articles/2020-08-28/bailey-says-negative-...
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