Unlike Bank of England Chief Economist Andrew Haldane’s position described in Jennifer Ryan’s Bloomberg Business article linked above, I am doubtful that the UK needs lower interest rates right now. But if it did, Andrew Sentance, a former member of the Bank of England’s monetary policy committee is wrong in saying “There’s not much lower you can go, and a cut to 0.25 percent isn’t going to have a significant impact on the economy” (as quoted in the article). The Bank of England has actually been quite interested in eliminating the zero lower bound, as indicated by making Ken Rogoff and me keynote speakers at their conference on the future of money in May 2015.