MPC would use additional tools at zero bound
The Bank of England's Monetary Policy Committee (MPC) has considered the options should bank rate come close to or reach the zero bound, said David Blanchflower, a member of the committee.
Blanchflower said that it was by no means certain that the rate would eventually be cut to zero. But he said that the Bank must consider the options available to monetary-policy makers in such cases. He said that the MPC would use the additional tools available to stimulate the economy, such as making open
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