BOE’s Bailey: Negative rates are in the toolbox, but that is not the current plan

Bank of England (BOE) Governor Andrew Bailey said in a statement on Thursday, the negative interest rates are not the current plan, although it remains as a policy option.

Further comments

Please don’t think we are about to use negative rates.

We are not taking a strong signal from the recovery so far for what happens next.

We could do more QE, new forms of forward guidance.

Risks are skewed to the downside.

Further stimulus would depend on downside risks coming to fruition.