However, there remains divided opinion on whether the measure could be implemented and how it would work.
Governor of the Bank of England, Andrew Bailey, said that while negative rates were “in the toolbox” Britons should not expect the measure to be used imminently.
And chief economist, Andy Haldane, recently commented the conditions for introducing negative rates had not yet been met.
The supposed rift in the central bank makes it unclear how matters will proceed.
Regardless, low rates have clearly had an impact for many savers.
Published at Tue, 20 Oct 2020 20:50:00 +0000