October 15, 2020, 6:31 AM EDT Banks Not Ready for Negative Rates, NatWest Chairman Davies Says By October 15, 2020, 6:31 AM EDT Many contractual and technical issues with sub-zero rates Brexit talks paid little attention to finance, Davies says Howard Davies, chairman at Natwest Group, discusses the potential economic impact of new lockdown measures in London and the need for further stimulus in the U.S. and Europe. We’re not completely ready for it,” Howard Davies said in a Bloomberg Radio interview Thursday. There would be technical issues and many contractual issues.” Davies said he was against the introduction of sub-zero rates, noting there was little evidence it had spurred investment in other countries. […] While British banks are prepared for any outcome, it is a “suboptimal solution,” Davies said on Bloomberg Television.
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