Bailey Says BOE Hasn’t Yet Reached a Judgment on Negative Rates

Bank of England Governor Andrew Bailey pushed back against speculation that central bank would cut interest rates below zero anytime soon, saying policy makers haven’t reached any judgment on whether to introduce negative interest rates.

The central bank is examining the operational implications of taking rates below zero, such as whether computer systems are able to handle negative figures. However, officials have other tools available and will use them actively as necessary, Bailey said on a webinar Tuesday hosted by Queen’s University Belfast.