June 30, 2020 / 3:16 PM / 6 days ago

Company defaults yet to come in pandemic crisis: BoE's Cunliffe

FILE PHOTO: Bank of England Deputy Governor Jon Cunliffe speaks at the 'Future Forum 2017' event in St George's Hall, Liverpool, Britain November 16, 2017. REUTERS/Phil Noble

LONDON (Reuters) - Bank of England Deputy Governor Jon Cunliffe said on Tuesday that a number of companies are likely to enter financial distress as the coronavirus pandemic continues.

“I would imagine that we are going to see a number of credit events and defaults in this crisis,” Cunliffe said in an online discussion hosted by the Institute of International Finance.

Cunliffe also said the BoE should not be dogmatic over the possibility of negative interest rates and policymakers had yet to come to a conclusion about their viability in Britain.

Reporting by Andy Bruce; Editing by William Schomberg

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