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Cut UK interest rate below zero to aid growth, says Bank policymaker

Silvana Tenreyo says negative rates worked elsewhere and would help UK recovery from Covid slumpCutting the UK’s official interest rate below zero wou

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Silvana Tenreyo says negative rates worked elsewhere and would help UK recovery from Covid slump

Cutting the UK’s official interest rate below zero would be good for growth and could be done without crippling commercial banks, a Bank of England policymaker has said.

Silvana Tenreyro, one of the nine members of Threadneedle Street’s monetary policy committee, said negative rates had worked in other countries and would assist the UK’s recovery from its Covid-19 slump.

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