In an interview with the Yorkshire Post, the lieutenant governor of Bank of England (BoE), Dave Ramsden, said that some people have been able to save a lot, but that those people tend to be more in the higher income levels, as reported Reuters.
“We want to be in a position where if things don’t improve, as we are predicting, the negative types tool can be used effectively, if at that time we make the political decision to use it, “added Ramsden.” Contingency planning is very different from thinking about using negative rates. “
Market reaction
The GBP / USD pair rose slightly at the time of this writing and was unchanged on the day at 1.3934.
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