Bank of England policymaker backs negative interest rates

  The Guardian 

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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. Continue reading...

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