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BoE's Carney says negative rates not an option for UK - Central Banking

BoE's Carney says negative rates not an option for UK - Central Banking
FILE PHOTO: Mark Carney, Governor of the Bank of England (BOE) speaks at the bank's quarterly Inflation Report Press Conference in London, Britain August 1, 2019. Chris J Ratcliffe/Pool via REUTERS -
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POOL New(Reuters)
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LONDON (Reuters) – Bank of England Governor Mark Carney said he did not think negative interest rates were an option for the British economy at the moment, in comments published on Monday.

“At this stage we do not see negative rates as an option here. I am not criticising others that have used them, but we don’t see it as an option,” Carney told website Central Banking.

Carney also called on France and Germany to take action to ensure that uncleared derivative contracts can function smoothly after Brexit, due to take place on Oct. 31.

Central Banking said it interviewed Carney on Aug. 1, the date he gave a news conference after the BoE published its latest Inflation Report.

(Reporting by Andy Bruce; Editing by William Schomberg)

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