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BoE's Ramsden Says Not Appropriate Time To Use Negative Rates

Bank of England Deputy Governor Dave Ramsden said on Wednesday that this is not the appropriate time to use negative interest rates as the UK economy and financial system are weighed down by the shock from the coronavirus, or Covid-19, pandemic and concerns over a highly uncertain outlook.

That said, negative rates will remain in the central bank's tool box for potential use in future when policymakers' assessment of their effectiveness change, he said in a speech.

"As the MPC has made clear, we will keep the appropriateness of all tools, including negative rates, under review," Ramsden added.

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