Economics
Carney Counts His Luck for Never Taking BOE Into Negative Rates
- Says tool not right for U.K. due to makeup of financial system
- Bank of England Governor will finish his role on March 15
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Mark Carney said he’s lucky he never had to cut interest rates below zero as Bank of England governor because they would have damaged the U.K.
Carney, who leaves the central bank next month, has long been opposed to negative rates, a tool used in other economies such as the euro area and which has proved controversial.