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Financial News: BoE's Hauser Says Interest Rates Unlikely To Turn

BoE's Hauser Says Interest Rates Unlikely To Turn Negative In Near Term

06/04/2020 - 08:23:00 (RTTNews)

(RTTNews) - UK interest rates are unlikely to turn negative in the near-term, Bank of England's Executive Director for Markets, Andrew Hauser said on Thursday.

"Even if you saw it was the right thing to do, it's not going to happen in the near term," Hauser told a Bloomberg webinar.

UK interest rates are now at a record low 0.1 percent.

He said financial markets could come under strain again, if there is another leg to the global infection cycle, or if economic data come out persistently worse than expected.

Policymakers should think how the potential to amplify the sort of 'dash for cash' seen in March and April, he said.

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