Economics
BOE Examining Negative Rates, Haldane Tells Telegraph
- Central bank isn’t poised to impose any new policy imminently
- The BOE’s benchmark interest rate currently stands at 0.1%
A clock hanging from the Royal Exchange building displays the time in view of the Bank of England (BOE) in London, on May 6.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
The Bank of England is examining unconventional monetary policy measures more urgently amid the economic slump caused by the coronavirus pandemic, according to its Chief Economist Andrew Haldane.
The central bank is reviewing a number of policies -- including negative interest rates and expanding the scope of the bank’s asset-purchase plan to include riskier securities -- as it is running low on conventional easing space, Haldane said in an interview with the Telegraph. He stressed that the BOE isn’t poised to impose any of those polices imminently.