- Analytics
- News and Tools
- Market News
- Bank of England asks banks about readiness for negative rates
Bank of England asks banks about readiness for negative rates
Reuters reports that the Bank of England asked banks on Monday for information about their readiness for zero or negative interest rates.
“As part of this work, we are requesting specific information about your firm’s current readiness to deal with a zero Bank Rate, a negative Bank Rate, or a tiered system of reserves remuneration – and the steps that you would need to take to prepare for the implementation of these,” Deputy BoE Governor Sam Woods said in a letter to banks.
Woods said he wanted to know if there were any technology challenges to implementing zero or negative rates.
The BoE set a deadline of Nov. 12 - a week after its next monetary policy announcement - for banks to respond to its request for information on the impact of negative rates.
The BoE is widely expected to announce on Nov. 5 that it is increasing its bond-buying programme again to help Britain’s economy as it tries to recover from its record slump earlier this year caused by the coronavirus lockdown.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
