⁍ The Bank of England is weighing up how it could bring negative interest rates to Britain if needed.

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⁍ There are differing views among its nine monetary policymakers.

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⁍ The BoE is considering what sub-zero rates would mean for Britain’s large banking industry.

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– The Bank of England could become the first major central bank in the world to offer negative interest rates to banks, the BBC reports. According to Reuters, the BoE’s nine-member Monetary Policy Committee is currently weighing the pros and cons of using negative rates—which Japan and the European Central Bank have already tried—to boost the British economy. The BoE could offer banks negative rates on deposits as part of a bond-buying stimulus program, or it could offer them loans at negative rates in an effort to encourage banks to lend and boost growth. According to the Guardian, the BoE could also offer banks cheap loans with negative interest rates in exchange for government and corporate bonds. The Bank of England is currently considering the pros and cons of using negative rates for the first time, according to the BBC. According to Reuters, there is little consensus among the BoE’s nine monetary policymakers on whether using negative rates would be helpful for the British economy. The BoE is currently considering what sub-zero rates would mean for Britain’s large banking industry, which relies heavily on household deposits. Reuters reports there is little consensus among the BoE’s nine monetary policymakers on whether negative rates would be helpful for the British economy. The BoE is currently considering what sub-zero rates would mean for Britain’s large banking industry. According to the Guardian, there is little consensus among the BoE’s nine monetary policymakers on whether negative rates would be helpful for the British economy. According to the BBC, there is no consensus among the BoE’s nine members.