BoE's Bailey: Situation with low interest rates unlikely to change markedly

Eren Sengezer FXStreet

"I don't think the situation with low interest rates is going to change markedly," Bank of England (BoE) Governor Andrew Bailey said on Thursday, as reported by Reuters.

Additional takeaways

"A digital currency would have implications for interest rate-setting."

"Privacy is a big issue for digital currency."

"Currently, no prospect for agreement with the EU on post-Brexit equivalence rules for financial services."

"There is a price worth paying for equivalence on finance sector rules with the EU but that price is not infinite."

"There is no lack of goodwill between the UK and the EU on financial services."

"We will learn to live without equivalence with the EU on finance rules if situation not sorted out."

Market reaction

These comments don't seem to be having a significant impact on the British pound's performance against its rivals. As of writing, the GBP/USD pair was down 0.1% on the day at 1.4038.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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