Bank of England preparing ground for negative interest rates

The latest noises from the Bank of England imply that the possibility of the Bank adopting negative interest rates has moved closer.

There is news here that it has surveyed commercial banks asking about their attitude to, and ability to cope with negative interest rates.

Current monetary policy interest rates (as of October 2020) are 0.1% - and thus any further cuts are going to take us into negative territory. It would represent a marked change in the Bank's position on this aspect of monetary policy.