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World

The Bank of England's terrifying economic projections

5 November 2020

8:40 PM

5 November 2020

8:40 PM

The Bank of England includes as one of its ‘conditioning assumptions’ in its forecasts today that the Bank Rate – the interest rate that is the benchmark for all rates – becomes negative for the first time in history next year, at minus 0.1 per cent.

It describes a world in which banks are charged for not lending to us and we are charged for saving.

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