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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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:
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:
Here’s Lyons:
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.