Business
Negative interest rates: Bank of England policymaker defends plan – BBC News
Silvana Tenreyro said evidence from countries that have introduced the policy was “encouraging”.
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A Bank of England (BoE) policymaker has defended the potential use of negative interest rates, which could take the cost of borrowing below zero.
Silvana Tenreyro told the Sunday Telegraph that evidence from other countries was “encouraging”.
On Tuesday, the BoE governor played down the prospect of taking rates below zero, insisting it just needed to make sure it could do so if needed.
The Bank has so far responded to the pandemic by cutting rates to just 0.1%.
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