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cldrvr
2nd May 2013, 13:32
Draghi in a press conference today stated that the ECB is ready for negative deposit rates.

This on the back of the interest rate cut today in Europe.

Cue the SNB to follow suit when the ECB acts.

ExXB
2nd May 2013, 14:02
Many Swiss banks are already charging 'negative interest rates' on CHF accounts for non-resident account holders. Accounts in Euros, pounds or dollars not included.

G-CPTN
2nd May 2013, 14:57
Isn't this what the Cypriot banks have just done?

squarehole
2nd May 2013, 15:04
Get the money under the bed. :oh:

Rwy in Sight
2nd May 2013, 15:11
Start buying all those goodies you have been saving for!

Rwy in Sight

SpringHeeledJack
2nd May 2013, 15:54
Perhaps if we knew what they know, we'd be getting very discomforted at the whole situation. To even consider negative interest rates, the near-term outlook must be horrendous in the eurozone. It's as though they don't want anyone to save, just spend and/or service loans that are underwater if the reality could be seen.


SHJ

KAG
2nd May 2013, 17:18
outlook must be horrendous in the eurozone.

Great effort with the vocabulary.

Maybe we should prepare a little kit for the coming expected bashing team, here is a little help:

lurid
nasty
grisly
ghastly
gruesome
dreadful
hideous
horrific
ghoulish
grim
grisly
awful
abysmal
horrible
frightful
appaling
disastrous
calamitous
catastrophic
desolation
havoc
ravage


The Postman once spoke Japanese but that's because he was very angry.

mixture
2nd May 2013, 17:22
Erm ... where have you been since 2008 cldrvr ? :cool:

Rates have effectivley been negative for quite some time now if you take into account the effects of taxation and inflation.

vulcanised
2nd May 2013, 19:48
also, not to forget jolly 'quantative easing'.

mixture
2nd May 2013, 22:51
Perhaps if we knew what they know, we'd be getting very discomforted at the whole situation.


I'm sorry. What "if we knew what they know" ?

Unless you've had your head in the sand since 2008, its neigh on impossible for you to have missed the news about Cyprus and PIGS (Portugal,Italy,Greece,Spain).

Sure the Germans and others bailed them out, but that doesn't mean the underlying problem disappeared at the same time as the bail-out.

You hardly need access to the information they have ... hell, you hardly need an economics degree to work out that the Eurozone has some way to go yet before it can be declared healthy again (if it ever was properly healthy in the first place !).

RJM
2nd May 2013, 23:11
'negative interest' ?

We don't have that down here vyet.

Does it mean that a bank would pay me not to deposit my funds in it? If so, I think I can see a way for that to work to my advantage.