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BoE realistic about challenge of sub-zero rates for banks, Bailey says

Bank of England Governor Andrew Bailey said the central bank was realistic about the challenges negative interest rates would pose for the banking system, but repeated he was not ruling them out as a way to help Britain’s economy.

BoE realistic about challenge of sub-zero rates for banks, Bailey says
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  • Shared by Reuters
  • September 30, 2020
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Bailey said the big share of retail deposits - which have tended to continue offering positive rates to investors even in countries which have cut rates below zero - in Britain’s banking system could reduce the effectiveness of any BoE negative rates.

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