BoE says negative rates ‘in toolbox’ and forecasts slow recovery
First “proper” forecast since Covid-19 outbreak gives little hope of a V-shaped recovery
Bank of England governor Andrew Bailey has given his first concrete statement that the central bank is willing to use negative interest rates.
The BoE unveiled its latest monetary policy decision today (August 6), projecting a long and slow recovery for the UK from the Covid-19 shock.
“It is absolutely sensible for us to have them in the toolbox, but we’re not planning to use them at the moment,” Bailey told a press conference as he presented the results of the latest monetary policy and
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