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Bank of England's Tenreyro sets out case for sub-zero interest rates

Mon, 11th Jan 2021 14:07

LONDON, Jan 11 (Reuters) - Bank of England policymaker
Silvana Tenreyro set out her view that cutting British interest
rates below zero could boost the economy by more than expanding
asset purchases.

Tenreyro has for several months said that she believes
international evidence points to benefits from negative rates,
though she said on Monday that she had not reached a decision on
whether now was the time to take such a step in Britain.

"Monetary policy transmission have worked effectively under
negative rates in other countries, with some of the evidence
pointing to more powerful effects," she said in an online speech
hosted by the University of the West of England.

Other BoE policymakers have been more sceptical about the
case for negative interest rates.
(Reporting by David Milliken and Andy Bruce)

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