No immediate plan for negative Bank rate

The Guardian reports on the IEA's State of the Economy conference

One of the Bank of England's deputy governors has tried to shoot down speculation that Britain might experiment with negative interest rates - a day after a fellow deputy suggested it might.

Charlie Bean insisted that the Bank was not about to ask to be paid to hold commercial banks' deposits, despite Paul Tucker hinting that it was under consideration.

Speaking at a conference organised by the Institute of Economic Affairs, Bean said:

"Any suggestion that we have a plan to introduce negative interest rates immediately, I should make absolutely clear, is not the case."

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