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ECB Will Cut Rates To Minus 3%: JP Morgan
from Zero Hedge
A running theme here over the past several weeks has been that the ECB’s €1.1 trillion foray into quantitative easing will be severely hindered by a laundry list of constraints (some of which were unwittingly self-imposed). Another topic we’ve covered exhaustively is the idea that the world’s central banks will likely all, in relatively short order, run up against the natural limits of accommodative monetary policy (indeed, even some Japanese policy makers are starting to agree on this).
Thinking about these two things in conjunction raises an interesting question for the ECB: if a tail event comes rearing its ugly head and the global central bank race to the bottom accelerates, will Mario Draghi, effectively fighting with one hand tied behind his back by virtue of Q€’s limitations, be able to fend off an outright collapse?
Continue Reading at ZeroHedge.com…
Source: http://financialsurvivalnetwork.com/2015/03/ecb-will-cut-rates-to-minus-3-jp-morgan/?utm_source=rss&utm_medium=rss&utm_campaign=ecb-will-cut-rates-to-minus-3-jp-morgan
