The Governor of the Bank of England believes that reducing interest rates to below zero requires comprehensive communication
Bank of England Governor Bailey said that if interest rates were to fall below zero, extensive communication was needed because it was not a normal rate cut and reiterated that the central bank has long believed that negative interest rates will cause problems for banks. Therefore, the implementation of negative interest rates has not been considered, but this possibility has not been completely ruled out. The Bank of England has no need to implement negative interest rates, which has eased the downward pressure on the pound.
IEA says crude oil demand is beginning to show signs of recovery
The International Energy Agency (IEA) said that in response to the easing of confinement measures in various places, the forecast of the decline in global crude oil daily demand this year was reduced from the estimated 9.3 million barrels last month to 8.6 million barrels. It also pointed out that global economic activity is beginning to recover gradually but fragilely, and the prospects are still very uncertain, especially whether local governments can relax confinement measures without triggering an outbreak. As for the oil market conditions, the IEA said that crude oil demand had initial signs of recovery, but it is still too early to conclude that supply and demand will return to equilibrium at this stage.
Z. com Bullion is an affiliate of GMO Financial Holdings, Inc., a Japanese listed group. The risk of loss in leveraged foreign exchange trading & margin trading can be substantial. Visit the company website to read full risk warning. https://bullion.z.com/en/about/legal/risk/
Service relating to Over-the-counter (OTC) Gold Bullion/Silver trading is provided by MOL. OTC Gold/Silver Bullion trading carries a high degree of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. OTC Gold/Silver Bullion is not regulated by the Securities and Futures Commission (""SFC"") and therefore trading OTC Gold/Silver Bullion will not be subject to rules or regulations promulgated by the SFC. Before deciding to trade OTC Gold/Silver Bullion you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain losses in excess of your deposited fund or even more in extreme circumstances and therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading OTC Gold/Silver Bullion, and seek advice from an independent financial advisor if you require.