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Broadbent Ready to Back Another BOE Rate Cut Amid Slowdown

  • Deputy governor says no BOE official advocated negative rates
  • Central bank has room to ease more should outlook darken
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Will Carney's Stimulus Package Deliver Long Term Gains?

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Bank of England Deputy Governor Ben Broadbent said he’s likely to favor another interest-rate cut this year while signaling policy makers won’t take borrowing costs below zero.

The Monetary Policy Committee discussed the appropriate amount of new easing to add to support an economy rattled by Brexit, he said in a briefing at the BOE in London on Friday. While they discussed taking rates lower, “there wasn’t a huge amount of debate about what that lower bound currently is,” he said.