Banks in England Could Soon Charge You to Hold Your Cash

[MRM]

A monetary policy that includes a negative interest rate would mean that the Bank of England would charge those that lend it money. The Bank of England is seriously considering implementing a negative interest rate to jump start its economy, which has been trampled by the coronavirus and is about to be walloped by Brexit.

In the final quarter of this year, the Bank will “begin structured engagement on the operational considerations” of a negative interest rate with the Prudential Regulation Authority, according to a Monetary Policy Summary report, published today.
Source: https://decrypt.co/42200/banks-england-charge-hold-cash-negative-interest-rate