Will we be paid to borrow money with negative interest rates?
Banks get six months’ notice for negative interest rates
Could we be paid to borrow money and charged to use our checking accounts in the near future? If the Bank of England keeps interest rates negative, this could become a reality. Today, the rate regulator told banks they have six months to prepare for negative interest rates as its monetary policy committee kept current levels at a record low of 0. , 1 pc. Still, Gov. Andrew Bailey tempered expectations of the policy going into effect. So if Britain adopted negative interest rates, what would that mean for your mortgage, savings and borrowing money? Read how it will affect your money. Yet economic editor Russell lynch believes negative rates won’t happen – and neither should they.
Quarantine hotel plans dubbed a ‘mess’ amid delay
The hotel quarantine plans have been described as a “mess,” with hotels, airlines, airports and border force officials claiming they were ignoring government policy – three weeks after it was first mentioned. Rob Paterson, managing director of Best Western, which has offered its hotels to be quarantined, said he would be out of a job if he had handled the plans this way. Boris Johnson had indicated that an announcement on the policy would be made today by Matt Hancock, the Secretary of Health, but officials said it had been postponed, possibly until next week. Mr. Paterson did not hold back in his assessment.
In the Commons, the Vaccines Minister told MPs the NHS was on track to meet its goal of vaccinating the four priority groups against Covid-19 by mid-February. Nadhim Zahawi said nearly one in five adults has now received their first dose, adding that the UK “is getting safer every day”. The rapid deployment has prompted the Greek Prime Minister to hope that British tourists can visit the country this summer. Meanwhile, the Liberal Democrats urged ministers to share vaccine supplies with other countries “in parallel” with the nationwide rollout.
How Little Moons went from novelty to viral favorites
Thanks to a craze for TikTok, the Little Moons have just become the biggest thing in Britain, which is ironic because they are really quite small. These British-made Japanese-inspired treats feature flavored ice cream coated with a gelatinous rice flour paste called mochi, which has been steamed and pounded to give it a distinctive soft, chewy texture. Although they’ve been available for years, the goodies have suddenly – almost inexplicably – started to become a trend on social media. Judith Bois has scoured the internet to understand why – and has the verdict of the taste.
At a glance: the latest headlines on coronaviruses
Also in the news: other titles from today
Rain in rubble | Residents were evacuated from their homes in the middle of the night after a landslide caused a 70-foot (21 m) wall to collapse on their properties. Five families were forced to flee their terraced houses after tons of rubble collapsed in the pouring rain.
Around the world: a man crossed mountains to flee Iran
Anglo-Iranian anthropologist sentenced to more than nine years in prison in Tehran revealed he fled across Iran’s mountainous border to Turkey to prevent Iran from using him as “a valuable asset” in negotiations with the UK. Kameel Ahmady, an academic renowned for his research on underage wives and female genital mutilation (FGM) in Iran, was arrested in August 2019 and sentenced last November for “seeking to undermine Iran” by advocating for an increase in the legal age of marriage. Read how Mr. Ahmady escaped after losing hope that his appeal would be met.
“I prefer to build bridges, not destroy them”