BOE's Bailey: We do not rule out negative rates but are realistic about challenges
Comments from the BOE leader
- The recovery has been uneven
- Since May there has been quite a sharp and fast recovery
- It would be a 'cardinal sin' if the BOE had a tool but did not know how to put it into effect
- BOE is not out of ammunition, can use more QE or forward guidance
- Critically important that BOE can use all its tools to support economy
Bailey is speaking in Belfast.