Want to create an interactive transcript for this episode?
Podcast: Beyond Currency
Episode: 12 January 2021 - MPC member sets out case for negative rate
Description: "Data for like-for-like retail sales was published overnight. It showed just how bad 2020 was for the sector.
There was a slump in demand for fashion and homeware products while sales of foodstuffs grew by 5.4% over 2020. This perfectly illustrates the effect of the lockdowns that took place during the year. Overall, sales fell by 0.3%, the worst outcome since records began twenty-five years ago.
Silvana Tenreyro, a member of the Bank of England’s Monetary Policy Committee spoke yesterday of the possibility that the Bank will need to add more stimulus to the economy This view was backed by U.S. investment ba...