Bailey Says Bank Of England Not Ruling Out Negative Interest Rates
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Bailey Says Bank Of England Not Ruling Out Negative Interest Rates
Bank of England Governor Andrew Bailey said the UK central bank is currently reviewing all its tools and it would be foolish to rule out any one of them, including negative interest rates.
"We do not rule things out as a matter of principle," Bailey told lawmakers at a Treasury committee hearing on Wednesday.
Specifically on negative interest rates, the BoE Chief said, "We're not ruling it in, and we're not ruling it out."
UK interest rates are now at a record low 0.1 percent.
Bailey said policymakers are studying the experience of other central banks with negative rates. The Bank of Japan and the European Central Bank have negative interest rates.
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