ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
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Post by ozboy on Mar 19, 2020 14:52:03 GMT
I sure as hell hope he knows what he's doing, but on past form at the FCA the man is a menace. Interest Rates now at 0.1% I believe, lowest in history, so 0.1% of "fat" left! I am aware and understand that there can be such a thing as negative "Interest" Rates. I probably don't understand economics so happy to be corrected. [ PS / EDIT: I am also aware he was Deputy Governor of the BoE from 2013 to 2016 but, regardless of this "experience", my point is that if his understanding and attention to detail is the same as his appalling job at the FCA, we have a major problem. ]
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cb25
Posts: 3,528
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Post by cb25 on Mar 19, 2020 15:21:39 GMT
I sure as hell hope he knows what he's doing, but on past form at the FCA the man is a menace. Interest Rates now at 0.1% I believe, lowest in history, so 0.1% of "fat" left! I am aware and understand that there can be such a thing as negative "Interest" Rates. I probably don't understand economics so happy to be corrected. The ECB is often said to have a negative base rate (-1/2% I believe), but I don't know what that applies to. I believe the thinking is that if central banks remove 1/2% of the deposit, commercial banks will be encouraged to lend the money to businesses rather than deposit it at the central bank (and lose money).
ozboy You might want to take a look at this thread just created by stuartassetzcapital "This will decimate seriously impact savers' returns savings and if rates go negative then businesses and higher net-worth individuals could be hit by what is effectively a tax on their bank savings balance"
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benaj
Member of DD Central
N/A
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Post by benaj on Mar 19, 2020 15:29:29 GMT
Bailey is no Carney. Period. At least Carney spent 13 years in Goldman Sachs. Bailey joined Bank of England in 1985 before King joined the Bank of England in 1990
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