Following a regular policy meeting, the BoE said it had left its key interest rate at a record low of 0.1 percent amid low inflation and rising unemployment caused by Covid-19 fallout.
The pound has already come under heavy selling pressure this month from the possibility that Britain and the European Union will fail to strike a post-Brexit trade deal. "It will also depend on the responses of households, businesses and financial markets to these developments." A negative interest rate would likely see retail banks further cutting their own borrowing costs, adding more pain to savers, but boosting borrowers.
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