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MNI BRIEF: BOE Vlieghe: Backs Negative Rate If Stimulus Needed

LONDON (MNI)

With economic risks still skewered to the downside, setting a negative interest rate would be the preferred method of injecting further stimulus if it is required for Bank of England Monetary Policy Committee member Gertjan Vlieghe, he will say Monday.

Vlieghe's comments, in the text of the forthcoming speech released by the BOE on Friday, highlight the splits on the MPC, with Deputy Governor Dave Ramsden saying this week that quantitative easing was his preferred policy tool. Negative rates will only be operationally possible from August.

If policy easing is needed " I would favour a negative Bank Rate as the tool to implement the stimulus," Vlieghe said in the text of his speech.

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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