Bank of England policymaker backs negative interest rates


Gertjan Vlieghe says the surge in Covid cases means the Bank will need a range of measures

Negative interest rates in the UK edged closer on Monday after a Bank of England policymaker warned the central bank would need extra firepower to boost the economy following the surge in Covid-19 cases.

In a gloomy assessment of the next few months, Gertjan Vlieghe, who sits on the monetary policy committee, the bank’s interest rate setting body, said the second wave of Covid-19 was holding back consumer spending and suppressing business investment, which would push unemployment higher.

What would happen to my mortgage?

Continue reading…


Please enter your comment!
Please enter your name here