Bank of England asks firms about readiness for zero or negative interest rates

Sam Woods, deputy governor of the Bank of England, has written to firms asking about their ‘operational readiness’ for a zero or negative Bank Rate.
The Bank is asking firms to provide information on what operational preparations they would need to make in the event that the Bank’s Monetary Policy Committee considers a zero or negative policy rate. The deadline for responses is Thursday 12 November 2020.

In August, the Bank of England’s Monetary Policy Committee (MPC) noted that it would continue to assess the appropriateness of a negative official Bank Rate alongside all of its other tools.

Source: Financial Reporter
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