Deeply negative nominal rates are on their way
byGrowing evidence of a severe global recession is sure to provoke more aggressive monetary policies from central banks. They had hoped to have the…
NIRP
Where Negative Interest Rates Will Lead Us
byDespite zero-interest-rate-policy (ZIRP) and multiple quantitative easing programs — whereby the central bank buys large quantities of assets while leaving interest rates at practically…
Negative rates, Negative Outcomes
byThere has been much head-scratching of late as to why, with interest rates lower than they have been since the Universe first exploded out…
Everything changes at zero
by“Then said Jesus, “Father, forgive them; for they know not what they do.”” – Luke 23:34. For the benefit of non-subscribers, there are two…
Why did Japanese NIRP cause such surprise in the currency market and is it more dangerous?
byThe Bank of Japan announcement of NIRP sent shock waves through currency markets The Yen has strengthened on capital repatriation since the BoJ move…
From ZIRP to NIRP
byThe sudden end of the Fed’s ambition to raise interest rates above the zero bound, coupled with the FOMC’s minutes, which expressed concerns about…