While there was speculation about negative interest rates coming into force in the UK, according to one analyst, it’s not a prospect which looks likely now, amid the UK vaccine roll-out.
“Monetary policy expectations have come a long way since the start of the year, when negative interest rates were considered a serious possibility,” Laith Khalaf, financial analyst at AJ Bell, commented.
“Negative rates are now dead before arrival, thanks to the successful vaccine roll-out, and the Bank’s preparations to allow for sub-zero rates by August look like a purely academic exercise.
“Since the interest rate committee last met in March, shops, cafés and restaurants have opened, and a further seven million people have received their first vaccine dose.
READ MORE: Are you eligible for extra state pension? Deferring claim for payment may increase amount