Interview with the Bank of England's Governor Andrew Bailey on the impact of the Covid-19 pandemic

The transcript discusses the current state of interest rates, emphasizing that they are at historically low levels. It explores the possibility of rates going negative, highlighting the complexities and potential issues such a move could entail for the economy and financial systems. The speaker advises caution and notes that while previous policymakers may have ruled out negative rates, the current economic scenario is unprecedented. The discussion underscores the importance of keeping all options open while being mindful of the significant implications of negative interest rates.

What is the current status of interest rates according to the speaker?

• They are as low as they have ever been.

• They are at an all-time high.

• They are fluctuating unpredictably.

• They are steadily increasing.

What does the speaker suggest about the possibility of interest rates going negative?

• It is the next step in policy.

• It is already happening.

• It is completely ruled out.

• It is a possibility but not imminent.

Why does the speaker caution against assuming negative interest rates are imminent?

• Because it requires careful consideration due to its significant impact.

• Because it would have minimal impact.

• Because it is already in place.

• Because it is a common practice.

How does the speaker view the current economic scenario compared to previous ones?

• As similar to past scenarios.

• As unprecedented and unique.

• As less challenging than before.

• As irrelevant to current policies.

What is the speaker's stance on ruling out any economic policies?

• They follow previous governors' decisions strictly.

• They are undecided on the matter.

• They think nothing should be ruled out.

• They believe in ruling out certain policies.