Powered by

Bank of England, facing COVID slump, revives negative rates talk

May 18, 2020 - Nasdaq

B y William Schomberg LONDON, May 18 (Reuters) - A chorus of comments from top officials at the Bank of England about negative interest rates has revived talk that the British central bank might resort to cutting borrowing costs below zero to cushion the economy from the coronavirus shutdown. The BoE has cut rates twice as the COVID-19 crisis escalated in March to a record low of 0.1%. Most economists say its next move will be to add to the firepower of its 645 billion-pound ($783 billion) bo...