Andy Haldane argues for raising UK's inflation target in bid to give policymakers more 'wiggle room' in fighting downturns - and suggests cash could need to be abolished sooner rather than later. The Bank of England may need to push its interest rates into negative territory to fight off the next recession, its chief economist has said. Andy Haldane, one of the Bank’s nine interest rate setters, made the case for the "radical" option of supporting the economy with negative interest rates, and even suggested that cash could have to be abolished. He said that the "the balance of risks to UK growth, and to UK inflation ... (full story)