MNI BRIEF: BOE Ramsden Doesn't See Negative Rates Imminent

The Bank of England isn't likely to take negative interest rates out of its tool box imminently, Deputy Governor Dave Ramsden told the Society of Professional Economists in a webcast released by the Bank Monday.

"Look at what we communicated in September and August in the round... We are duty bound to explore in more detail the operational considerations that go with implementing negative rates," Ramsden said.

"We're not about to use them imminently, it takes time to do this work," he added

"I see the effective lower bound still at 0.1%," he said.

The full interview with Ramsden can be seen here.

His comments came after a weekend press interview in which Monetary Policy Committee member Silvana Tenreyro said there was encouraging evidence over the use of negative rates elsewhere in the world.