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Tenreyro more explicit on negative rates in the UK

BOE

BOE's Tenreyro's speech today on negative rates was the most explicit she has been on negative rates in a UK context. She has often said that international experiences of negative rates have been positive but steered clear of anything explicit regarding the UK. The following key points are new:

  • "My overall assessment is that, while we can never have complete certainty, negative interest rates should with high likelihood boost UK growth and inflation."
  • "It is possible that more stimulus be needed to do so at an appropriate pace. If that is the case, having negative rates in our toolbox will, in my view, be important."
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