Negative rates? No problem

摘要

From ZIRP to NIRP in the blink of an eye. Last year, the global markets were on tenterhooks on speculation as to when the US Federal Reserve would discontinue its zero interest rate policy. That was duly done in December, when the Fed's zero interest rate policy ended and 25 basis points were added to the Fed Funds rate. Now, we are in the land of NIRP - that's negative interest rate policy, for all you acronym fanciers - and it may be coming to a central bank near you sooner than you think.