Negative interest rates are wonderful, writes Izabella Kaminska, if the objective is to kill off banks and insurers. Earnings are already under enough pressure and flat/inverted curves at the short end are hurting even more. Add this to the growing list of unintended consequences of central bank actions, and as a caution to the Fed as it debates cutting deposit rates to zero.
Negative interest rates are wonderful, writes Izabella Kaminska, if the objective is to kill off...
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