BoE said to be mulling a controversial move into negative rates

Ross J Burland FXStreet

The Bank of England is said to be mulling a controversial move into negative rates, as written in the UK's Telegraph.

Sunak is expected to also confirm furloughed workers will get 80% of wages so long as businesses are mandated to shut.

Meanwhile, the Sun reported that the Bank of England chiefs are expected to pump around £150 billion of extra money into the economy as England’s second lockdown starts today.

And Rishi Sunak will make it a double bazooka by promising to keep the Government’s latest Covid bailout schemes in place even after the lockdown ends on December 2.

GBP/USD and crosses are selling off on the news:

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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