LONDON (Reuters) – The Bank of England will not accept disruption to the system that pays banks interest from reserves issued by the central bank, Chief Economist Huw Pill said on Thursday.
“From a bank perspective, from a monetary policy perspective, we want to be able to set bank rates and effectively pass that through money markets,” Pill said at a conference hosted by King’s College London.
“I don’t think the bank can accept anything that interferes with this.”
