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BoE not remotely close to any decision on negative rates: Haldane
The Bank of England is not remotely close to any decision to take interest rates below zero for the first time as a way to help Britain’s economy cope with the coronavirus crisis, the central bank’s Chief Economist Andy Haldane said. Haldane said the key factors for the BoE to consider were the consequences of negative rates for Britain’s banks and lenders, which would see a squeeze on margins, and how such a move would affect confidence in the broader economy. “Those are the aspects that we’ll look at,” Haldane said during an online discussion organised by the Confederation of British Industry on ... (full story)