“We need more evidence on coronavirus before making a policy decision,” incoming Bank of England Governor Andrew Bailey told the UK Parliament’s Treasury Committee on Wednesday. “The equilibrium real interest rate is likely to remain low for long,” Bailey added. “We need to think of rebalancing so that fiscal policy has more of a role to play.” GBP/USD reaction The GBP/USD pair’s reaction was largely muted to these comments and was last seen trading at 1.2810, where it was virtually unchanged on a daily basis. Additional takeaways “Negative interest rates have a perverse impact on banks.” “Negative interest rates would have a bad effect on bank competition in the UK.” “We should not rule out coordinated action with other central banks on coronavirus, but it’s not always appropriate.” “The BoE is already working on what tools for small businesses could look like.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next OPEC+ ministerial panel ends with no agreement, Russia resists deeper cuts – Reuters FX Street 2 years "We need more evidence on coronavirus before making a policy decision," incoming Bank of England Governor Andrew Bailey told the UK Parliament's Treasury Committee on Wednesday. "The equilibrium real interest rate is likely to remain low for long," Bailey added. "We need to think of rebalancing so that fiscal policy has more of a role to play." GBP/USD reaction The GBP/USD pair's reaction was largely muted to these comments and was last seen trading at 1.2810, where it was virtually unchanged on a daily basis. Additional takeaways "Negative interest rates have a perverse impact on banks." "Negative interest rates would have a bad… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
