Bank of England

Bank of England Official Says Negative Interest Rates Should be Considered

Rate has been held at 0.5 percent for years

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Bank of England deputy governor Paul Tucker has said negative interest rates should be considered.

The Bank rate has been at a record low of 0.5% for almost four years.

A negative interest rate would mean the central bank charges banks to hold their money and could encourage them to lend out more of their funds.