Archive for September, 2009
15th
Sep/09
Sterling spikes lower on comments from Mervyn King…
The Bank of England is considering a reduction in the Bank’s deposit rate to discourage banks from hoarding reserves. The Bank of England is of the opinion that such a move could help spread the benefits of quantitative easing to the broader economy. However, Mr King has noted that a similar move by Sweden’s Central Bank the Riksbank has only made a minimal impact.

