Friday, 30 Oct 2020

BoE's Tenreyro says evidence on negative rates encouraging

FILE PHOTO: A worker wearing a protective face mask walks past the Bank of England in the City of London, Britain, August 6, 2020. REUTERS/Toby Melville/File Photo

LONDON (Reuters) – The Bank of England has been discussing how effective negative interest rates might be in the economic downturn and “the evidence has been encouraging”, policymaker Silvana Tenreyro said on Saturday.

Tenreyro also told the Sunday Telegraph that any V-shaped recovery would be interrupted by local outbreaks of the novel coronavirus that weigh on the economy, and the fact there is a very weak global outlook.

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