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Interest Rates

Question for Treasury

UIN HL8277, tabled on 18 September 2020

To ask Her Majesty's Government what assessment they have made of the likelihood of negative interest rates being introduced in the current financial year.

Answered on

1 October 2020

Monetary policy, including decisions on Bank Rate, is the responsibility of the independent Monetary Policy Committee (MPC) of the Bank of England. Therefore, the Government does not comment on the conduct of monetary policy.

As noted in the minutes published on 17 September, the MPC will continue to review the appropriateness of a negative policy rate as a policy tool alongside its broader toolkit.

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