BOE’s Vlieghe: BOE unlikely to be able to cut rates as it did in the previous downturn

The Bank of England (BOE) policymaker Gertjan Vlieghe is on the wires now, via Reuters, making a scheduled speech, with the key headlines noted below.

• Structural forces unrelated to monetary policy are likely to keep rates low
• BOE unlikely to be able to cut rates as it did in the previous downturn
• BOE analysis rules out taking rates into negative territory
• Does not believe that a recession is overdue