There is a concern that the property market in England is already overheating because of the temporary lower SDLT rates and the “race for space” as many office workers realise that working from home may be coupled with more space if they move away from the inner cities or even the traditional commuter belt. But could this trend be amplified?
On 12 October 2020, the Bank of England wrote to the Chief Executive Officers of UK banks requesting specific information about each bank’s “readiness to deal with a zero Bank Rate [or] a negative Bank Rate”.
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