BoE's latest statement was no negative rate hint, Bailey says

FILE PHOTO: Bank of England Governor Andrew Bailey poses for a photograph on the first day of his new role at the Central Bank in London, Britain March 16, 2020. Tolga Akmen/Pool via REUTERS

LONDON (Reuters) - Governor Andrew Bailey said the Bank of England’s latest policy statement did not imply it would necessarily use negative interest rates, and that observers should not read too much into it.

Last week the BoE said it was looking at how it would implement a negative policy rate effectively if it needed to at some point in future.

“It doesn’t imply anything about the possibility of us using negative instruments,” Bailey told an online talk hosted by the British Chambers of Commerce.

Reporting by Andy Bruce, editing by David Milliken