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BoE's Ramsden says now not the time for negative rates

10/21/2020 | 08:16am EST

LONDON, Oct 21 (Reuters) - Cutting interest rates below zero risks damaging British banks' capacity to lend, and is not currently the right tool for the Bank of England to stimulate the economy, Deputy Governor Dave Ramsden said on Wednesday.

"While there might be an appropriate time to use negative rates, that time is not right now," Ramsden said, adding that asset purchases were a better way to boost demand.

(Reporting by David Milliken and Andy Bruce; editing by Stephen Addison)


© Reuters 2020
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