BoE Chief Economist Andy Haldane said the central banks is only in the “review phase” regarding negative interest rates. And they don’t rule out any options “as a matter of principle”. He emphasized that “to be clear, reviewing and doing are different things and currently we are in the review phase and have not reached a view remotely yet on the doing.”

On the economy, he said that incoming data were “a shade better” than projected. “This is perhaps still a V but perhaps a fairly lop-sided V” recovery, he said. “The risks to that probably…lie to the downside rather than the up and as I say, a rather more protracted recovery even than the one that I have mentioned.”

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