Tenreyro: Lower Rates Won’t Raise Spending

Silvana Tenreyro, member of the Bank of England’s (BoE) Monetary Policy Committee (MPC) has ruled out lowering interest rates soon, saying that lower rates will not necessarily lead to increased consumer spending.

Tenreyro said that there remains significant uncertainty about the economy’s outlook.

In her remarks earlier today, the MPC member further noted that the current unemployment remains temporary.