ECB imposes negative interest rate. “It cut its deposit rate for banks from zero to -0.1%, to encourage banks to lend to businesses rather than hold on to money.” The problem is that nobody wants to borrow – negative interest rates aren’t going to change that. Hey, is all the QE actually causing deflation, the very thing it was supposed to prevent? Some fans of Keynesian stimulus are starting to think so..
Author: Bonfire of the Absurdities
After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.
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