BoE’s Tenreyro says negative rates likely to work in UK

Silvana Tenreyro
Silvana Tenreyro
Photo: Bank of England/Flickr

Bank of England policy-maker Silvana Tenreyro has given her backing to negative rates in the UK, saying they are likely to be an effective means of generating further monetary stimulus.

The monetary policy committee member argued the experience of other countries suggested negative rates would bring benefits through financial markets and bank lending. She acknowledged the structure of the UK economy had some unique factors, but said these were unlikely to be enough to render the policy tool

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