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MNI BRIEF: BOE To Reverse Policy When Needed - Bailey

MNI BRIEF:BOE Gives Banks 6 Months To Ready For Negative Rates

The Bank of England can reverse its simulative policy directions whenever required, underling the central bank's operational independence, Governor Andrew Bailey said Friday.

"The interventions we have made are effective because the Bank is independent, and because we will reverse these actions when conditions require that," he said. On Thursday, MNI reported that Bailey has launched a review that will look at whether the BOE should start to reverse asset purchases before hiking Bank Rate, among other policy issues.

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

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