The Bank of England (BoE) aims to keep borrowing costs at minimum levels for as long as it takes for the economy to move, he said Andy Haldane, Chief Economist at the BoEon Monday, Reuters reported.
“Financial markets are looking for a long period of very low interest rates, but things can change,” Haldane said. “A successful COVID-19 vaccine would be a game changer. A credible vaccine announcement would significantly increase the confidence of the public and businesses.”
Market reaction
The pair GBP/USD It did not show an immediate reaction to these comments and was last seen gaining 0.23% on the day at 1.3184.
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Credits: Forex Street
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