The Bank of England overnight signalled that interest rates will not be lifted off record low levels any time soon. The Bank of England Monetary Policy Committee voted 1-0-8 (increase-decrease-hold) with Ian McCafferty the only dissenter. BoE policymakers left rates on hold at 0.50% and even signalled that they aren’t closed to cutting again if the data warrants the move. Yes, this opens up the possibility of negative interest rates. The bank’s quarterly inflation report released alongside the
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