BOE governor says negative rates are 'in the toolbox,' but there are no plans cut below zero
His comments came shortly after the BOE's Monetary Policy Committee voted unanimously to keep benchmark interest rates at an all-time low of 0.1%.
Policymakers also decided to leave the size of the central bank's bond-buying program unchanged at £745 billion . "What I can tell you is that other analysts are essentially right, in the sense of saying it is in the toolbox. But, there is no plan at the moment to bring it out of the toolbox and put it to work," Bailey said.
"Looking at that and looking at our situation, it makes sense to say: Look, we need as many tools in the box as we can get at the moment because obviously, we are in a constrained position with interest rates as low as they are," Bailey said.
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