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MNI BRIEF: Positive Evidence On Negative Rates: BOE Tenreyro

LONDON (MNI)

Evidence from outside the UK was "very positive" on negative rates in showing support for real economic activity, Bank of England Monetary Policy Committee member Silvana Tenreyro said Friday, noting tha "bank profitability actually increased because of negative rates" due to lower loan loss provision.

Speaking at the Reuters Global Investment Summit, she said the evidence was that negative rates were largely passed through to corporates rather than households. Her comments follow warm remarks towards negative rates from her colleague Michael Saunders earlier Friday.

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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