- BoE's governor Carney: Low interest rate environment is putting some pressure on UK bank margins but should be kept in perspective
Market news
11 February 2020
BoE's governor Carney: Low interest rate environment is putting some pressure on UK bank margins but should be kept in perspective
- We expect interest rates are going to be relatively low for the foreseeable future
- Upward adjustments to interest rates are likely to be modest
- Deep structural issues driving low rates
- Low interest rate environment adds to the government's fiscal policy
- Public infrastructure and corporate investment will be necessary to get UK out of low growth, low interest rate environment
- BoE conscious of risks of asset bubbles from low rates
- Debatable whether global financial markets have priced in lower long-term growth rates as well as lower interest rates, but this is less so in the UK bias
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