Economics

BOE Debate About Negative Interest Rates Is Stepping Up a Gear

Policy maker Tenreyro says central bank isn’t ruling them out
Officials would need to consider U.K.-specific effects

Silvana Tenreyro
Photographer: Luke MacGregor/Bloomberg

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By Jill Ward and Lucy Meakin

May 18, 2020 at 4:29 PM UTC

Updated on

May 18, 2020 at 5:57 PM UTC

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The Bank of England’s debate over negative interest rates stepped up a gear on Monday with one policy maker saying they’ve had a positive effect elsewhere.

Silvana Tenreyro’s comments follow those of the central bank’s chief economist, Andy Haldane, who said in an interview published over the weekend that sub-zero rates are something officials need to be looking at.