Nangle: ‘Unconventional' Bank of England may still cut rates

The Bank of England's increasingly unconventional policies could see it cut interest rates further, according to Threadneedle head of multi-asset Toby Nangle.

It has held rates at 0.5% for 44 consecutive months against the backdrop of a quantitative easing programme that has seen the bank amass £375bn worth of gilts. Recent moves, such as the transfer of coupon payments on those gilts to the Treasury and the Funding for Lending Scheme, aimed at boosting credit availability, point to a new wave of monetary policy initiatives. Nangle (pictured) labelled the FLS “a very interesting alternative strategy” and said the Bank still has material concerns over how to help the UK economy gain traction.  “It is not clear to me why they hold rates at...