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Bank of England eyes sub-zero rates in face of virus, Brexit - Black News Channel

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By PAN PYLAS Associated Press LONDON (AP) — The Bank of England indicated Thursday that it could cut interest rates below zero for the first time in its 326-year history as it tries to shore up a U.K. economic recovery that is facing the dual headwinds of the coronavirus and Brexit. After unanimously deciding to maintain the bank's main interest rate at the record low of 0.1%, the nine-member rate-setting Monetary Policy Committee said it had discussed its 'policy toolkit, and the effectiveness of negative policy rates in particular.' In minutes accompanying the decision, the rate-setters said a recent wave […]

The post Bank of England eyes sub-zero rates in face of virus, Brexit appeared first on Black News Channel.

Source: Black News Channel - Black News Channel

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