“I don’t think covid causes a structural change in the UK economy“said the Governor of the Bank of England (BoE), Andrew Bailey, after speaking about negative interest rates in the last hour.
Additional comments:
The BoE is working hard with banks to determine if negative rates are practical.
It is vital importance that banks keep loans as the economy recovers.
Is hard to know if people will spend a lot of their accumulated savings after the covid or if the economy will be more punished.
Most likely, there is a combination of consumer behavior in response to a higher level of savings.
I will not offer an opinion on Scottish independence, but there is a link between UK political uncertainty and business investment.
There is some evidence that Scotland’s last independence referendum depressed investment.
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