The Bank of England has written to banks asking them to take measures to prepare for any future decision to cut interest rates below zero later this year.
The Bank of England’s bond purchase programme is creating a “moral hazard” by funding companies which emit large amounts of carbon dioxide, according to a group of MPs.
The Bank of England needs to improve its own understanding of its quantitative easing programme to improve its effectiveness, according to the bank’s internal watchdog.
The UK is unlikely to see negative interest rates “imminently”, according to David Ramsden, deputy governor for markets and banking at the Bank of England.
The Bank of England has outlined plans to explore how negative interest rates could be implemented for the first time, to help the UK’s economic recovery from Covid-19.
The Bank of England will continue to review the potential of negative interest rates, to help stimulate the UK’s economic recovery from Covid-19, it said today.
Bank of England chief economist Andy Haldane has suggested negative interest rates could be implemented if further negative shocks are felt in the economy.
British citizens feel they have greater influence over economic decisions made by local authorities than central government, according to a study from a charity.
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