October 12, 2020
GIVEN DEFLATION, 0% IS USURIOUS:
Bank of England asks banks about readiness for negative rates (Reuters, OCT 12 2020)
The Bank of England asked banks on Monday how ready they are for zero or negative interest rates, following up its announcement last month that it was considering how to take rates below zero if necessary.Other central banks have pushed rates into negative territory in an attempt to spur banks to lend more, and the BOE said in September it was looking into what such a policy might mean in Britain.
Posted by Orrin Judd at October 12, 2020 12:00 AM