Analysis: economy would have to get much worse for Bank’s monetary policy committee to take unprecedented step
The Bank of England is a venerable institution. Not once since it was founded in 1694 have interest rates gone negative and there is no immediate prospect of that 327-year-long record ending.
To be sure, the most interesting piece of news from Threadneedle Street’s quarterly monetary policy report was that banks and building societies have been given six months to get ready for the possibility that rates might need to go below zero.
