Tag: Bank

Bank deputy governor warns against negative interest rates

Image copyright Getty Images A Bank of England (BoE) deputy governor has spoken out against setting negative interest rates, which would bring the cost of borrowing below zero. “At present, negative policy rates would be less effective as a tool to stimulate the economy,” Sir Dave Ramsden told the Society of Professional Economists (SPE). The Bank has so far responded… Read more →

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Negative interest rates: Bank of England policymaker defends plan

Image copyright Getty Images A Bank of England (BoE) policymaker has defended the potential use of negative interest rates, which could take the cost of borrowing below zero. Silvana Tenreyro told the Sunday Telegraph that evidence from other countries was “encouraging”. On Tuesday, the BoE governor played down the prospect of taking rates below zero, insisting it just needed to… Read more →

PMC Bank collapse: ‘We lost our money and then our son’

image copyrightGetty Images When India’s Punjab and Maharashtra Co-operative Bank (PMC) went under in 2019, nearly a million depositors were cut off from their life’s savings. One year later, many are still waiting for their money, reports the BBC’s Nidhi Rai. On 20 September, 2019, Raunak Modi deposited all his money – and that of his family’s – in an… Read more →

Ex-World Bank head Robert Zoellick: ‘The world could look like 1900 again’

Media playback is unsupported on your device Media captionRobert Zoellick: ‘The world could look more like the world of 1900… and that didn’t turn out so well’ The former head of the World Bank has warned the world could look like it did in 1900 if countries don’t work together to tackle the current crisis. Robert Zoellick pointed to the… Read more →