Bank of England gives strong hint of negative interest rates

Pedestrians walk along Oxford Street on Thursday. Britain's inflation rate fell to a five-year low of 0.2% in August. – REUTERSPIXThe Bank of England on Thursday gave its strongest hint yet that negative interest rates could be on the way as the UK economy battles against coronavirus and Brexit headwinds.

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. As well as the pandemic, Britain's future trading position with the EU is firmly in the BoE's sights. The BoE said it was exploring"how a negative Bank Rate could be implemented effectively, should the outlook for inflation and output warrant it".

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