The time is not right now for negative interest rates: BoE deputy governor

Industry News | 21/10/20

Dave Ramsden, deputy governor at the Bank of England, has said that “while there might be an appropriate time to use negative rates, that time is not right now”. Speaking during an online conference, Ramsden discussed whether Bank Rate could go negative.

Explaining why he thinks now is not the right time to lower rates further, Ramsden noted that the economy and the financial system are “already grappling with the effects of an unprecedented crisis, as well as the myriad uncertainties the crisis has created”.

Source: Financial Reporter