The Bank of England admitted for the first time it’s considering negative interest rates, but analysts don’t believe it will follow through

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The Bank of England is now open to the idea of negative interest rates, Governor Andrew Bailey said, just days after it had ruled them out.  “We do not rule things out as a matter of principle,” Bailey said during an appearance in front of a UK parliamentary committee. The UK cut interest rates twice in March, from 0.75% to 0.25% and then to 0.10%, their lowest level in the bank’s history. Bailey’s comments came as the UK government sold bonds, known as Gilts, at a negative rate for the first time in history. Analysts, however, expressed skepticism

Read more    Source: businessinsider.com

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