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MNI BRIEF: BOE Weighing Negative Rates Impact On Banks-Haskel

(MNI) London

The Bank of England is trying to determine whether the effect of negative rates on banks' lending margins would outweigh any boost to the wider economy, Monetary Policy Committee Jonathan Haskel said at a University of Exeter seminar.

In other remarks, Haskel downplayed weak August activity data, saying it was distorted by a switch to online education, but warned that a soaring Covid-19 infection rate was bound to sap spending on social activities such as visiting pubs and restaurants even if the government does not introduce further anti-virus lockdowns.

MNI London Bureau | +44 203-586-2223 | david.robinson@marketnews.com
MNI London Bureau | +44 203-586-2223 | david.robinson@marketnews.com

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