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- Bank of England Governor Andrew Bailey: We have very little evidence of scale of economic impact of latest lockdown
Bank of England Governor Andrew Bailey: We have very little evidence of scale of economic impact of latest lockdown
Impact of latest virus restrictions appears less than that in spring last year
Our best guess is GDP over Q4 was flat to slightly down
Mobility indicators are down more than in autumn, but less than in spring
Expects Q1 output to be weaker than November forecasts
Negative rates are a controversial issue
There are a lot of issues with negative rates
No country has used negative rates in 'retail' end of the financial market
Transmission of negative rates depends on banking system
BOE is doing a lot of work on whether negative rates are practical
There are good reasons to think we're in a world of low interest rates for a long period of time
Outlook for interest rates hinges on productivity growth
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