Sunday Mirror

Back­ing sub-zero in­ter­est rate

- Business · Finance · Banking · Bank of England · England · China

A Bank of Eng­land pol­i­cy­maker has pre­dicted a spike in un­em­ploy­ment that could push job­less­ness over its 7.5% tar­get, and backed the pos­si­bil­ity that neg­a­tive in­ter­est rates would stim­u­late the econ­omy.

Gert­jan Vlieghe cited “grow­ing em­pir­i­cal lit­er­a­ture” sug­gest­ing sub-zero in­ter­est rates had not been coun­ter­pro­duc­tive in other coun­tries.

China re­ported that its econ­omy ex­panded by 4.9% in the third quar­ter, com­pared with a year ear­lier, – just shy of its pre-pan­demic rate. It has just about com­pleted the up­ward leg of a V-shaped re­bound.

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