BoE tells firms to prepare for negative rates
Preparation is not a signal that negative policy rates will be adopted, Bailey stresses
The Bank of England has told UK financial firms to prepare for negative interest rates, but stressed this does not mean it will adopt the measure.
The BoE’s Monetary Policy Committee decided today (February 4) to ask the Prudential Regulation Authority to instruct firms to be ready to implement negative rates.
“My message to the markets is: you really should not try to read the future behaviour of the MPC from these decisions and these actions we’re taking on the toolbox,” governor Andrew
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