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MNI BRIEF: BOE Hauser: Banks' Negative Rates Readiness Key

LONDON (MNI)

UK banks and the Bank of England still need to get through lots of work before introducing negative interest rates. Andrew Hauser, Executive Director for Markets at the central bank stressed Thursday.

At a Reuters Events webinar, Hauser said his team's focus is on tiering and the impact on banks net interest margins and the readiness of banks' IT systems. "I think it will be the ability of banks to be ready for this that will be the determining step (on negative rates,)" he said, highlighting how the timing of their introduction, if it occurs, will be driven in part by purely practical concerns.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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