10/15/2019, 12:21 PM (Source: TeleTrader)
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Carney: BoE can cut rates close to zero

The Bank of England can cut interest rates in the United Kingdom "close to, but slightly above zero," in case such a move is seen as needed by central bankers, Governor Mark Carney told Parliament on Tuesday.

Last week, Carney warned growth in the UK may be slowing down, but the bank said earlier that the UK's core system is ready for Brexit.

In September, the BoE decided to keep its benchmark interest rate at 0.75% and the bond portfolio at £435 billion.

Breaking the News / VP