The ECB (European Central Bank) has announced it is now considering moving interest rates to negative. So those who wanted to know did Larry Summers’ speech have any impact – the answer was yes. This has been floated around behind the curtain. I have been asked about this increasingly over the last 6 months all because they lowered rates too far and kept them there too long that they do not know how to return to normal. The ECB is now considering a cut in the deposit rate where the officials will decide to take interest rates negative for the first time, as reported by Bloomberg..
