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Euro begins to crash, Eurozone now considering a Negative Deposit Rate of -0.1%

ECB is reportedly considering a negative deposit rate, meaning eurozone   lenders would have to pay the ECB to deposit money with it.

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By , and Ben Martin

4:05PM GMT 20 Nov 2013

 

Latest

ECB may want to make a gradual drift into negative deposit rate

16.05 The possible ECB deposit rate cut to -0.1pc may be a compromise   position “from those looking to bring the rate negative,” DRW strategist Lou   Brien writes in note:

Quote Creeping into the valley of negativity rather than charging into it might make   a move to a negative deposit rate more likely than otherwise would be the   case

 

Almanza and Lyons admit G4S and Serco were wrong

16.02 Both Almanza and Lyons admit that charging the MoJ for services   it did not deliver were “wrong”. Both point out that their   contracts were written in such a way that left them open to overcharging –   but both say that regardless of the contractual rights or wrongs, that it   was wrong to overcharge.

Almanza says:

Quote It was a judgement that was flawed. It was a flawed jdgement. I don’t think we   did correctly tell the difference between right and wrong, we got it wrong.

Here’s Lyons:

Quote It was totally wrong as far as we’re concerned. That may have been a   contractual interpretation – it still doesn’t make it right.

 

Euro dives on suggestion of negative interest rates

15.53 Here’s the chart that shows how the euro reacted to news that the   ECB is mulling a negative deposit rate.

Source: Bloomberg

 

Are PAC members on Prozac

Are PAC members on prozac?

15.51 But it doesn’t look like we’ve missed many fireworks at the PAC:

 

15.43 Shifting away from the Public Accounts Comimittee, Bloomberg   has reported that the European Central Bank is mulling a move into negative   deposit rates. The move has seen the euro drop and triggered a rally in   European shares.

http://www.telegraph.co.uk/finance/business-news-markets-live/10461626/Business-news-and-markets-live.html

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