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🌏 | ECB, July 7bp rate hike should not be ruled out = Dutch Central Bank Governor


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ECB, July 7bp rate hike should not be ruled out = Dutch Central Bank Governor

 
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However, he said he would fully support the policy outlook of President Christine Lagarde, who insisted that the interest rate would be lifted from the negative interest rate by the end of September.
 

[Davos XNUMXth Reuters] – European Central Bank (ECB) Board member Knott Dutch Central Bank Governor ... → Continue reading

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    Policy outlook

    Negative interest rate

    Negative interest rate(Minus Kinri,British: negative interest rate) IsEconomicsthe termIs one of theinterest rateIs less than 0%minusThat is.

    If it's a time of ultra-low interest ratesShort-term interest rateMay be temporarily negative. AlsoinflationAt times物 価Low interest rates during periods of high rate of increasedepositIfNominal interest rateEven if is positiveReal interest rateMay be negative.

    History

    June 2003, 6 in JapanFinancial institutionUnsecured lending and borrowing of short-term funds to each otherCall marketSo, the negative interest rate occurred for the first time in history, and it occurred frequently after that.[1].

    EuropeThen negative interest rates are taking root,Germany, Netherlands,Switzerland,France,Austria,Finland,DenmarkFound in short-term government bonds.This is unthinkable in the traditional bond market, and although some say it is an abnormal phenomenon, there is no sign that it will be corrected.Germany was the first to have a negative interest rate, a 2012-month government bond issued in early January 1.bidThe result was -0.0122%.

    2012 year 7 month,Policy interest rateFirst time inNational Bank of DenmarkShifted to negative interest rates[2].

    August 2014, 6,European Central Bank(ECB) set central bank deposit rate to -0.1%[3].

    January 2014, 10, JapanMinistry of FinanceRedemption period of 3 monthsTreasury billsFor the first time, the average successful bid yield for (short-term government bonds) was -0.0037%.Japanese Government BondNegative interest rate was attached to the bid[4].

    On November 2014, 11, the yield on newly issued 28-year JGBs in Japan fell in the bond market to -2%, the first negative yield for interest-bearing JGBs.[5].

    August 2014, 12,Swiss National BankAnnounced that it will introduce a negative interest rate[6].

    August 2016, 2,Bank of JapanIntroduced a negative interest rate on some of the BOJ's current deposits.The current account balance on the same day was 253 trillion yen.Of that amount, 4290%, or 8.9 billion yen, was subject to negative interest rates.[7].. As a result, government bond yields plummeted in Japan[8].

    August 2016, 3,Nemzeti BankReduced the overnight deposit rate from 1.35% to -1.20% after lowering the key policy rate from 0.1% to 0.05%[9].. The overnight deposit rate is set to be 1.25% lower than the main policy rate.[9].

    As of May 2016, EU, Switzerland, Denmark,Sweden, Japan, Hungary at policy rateNegative interest rate policyHas introduced[2][9].

    影響

    In August 2019, Jyske Bank announced a mortgage with a pre-fee interest rate of -8% in Denmark[10].

    Swiss financial giantUBSIt is,Swiss National Bank OfNegative interest rate policyFrom November 2019, 11, an annual maintenance fee of 1% will be collected for large personal deposit accounts with a balance of more than CHF 200 million (about 2 million yen) in order to shift the burden of Established a policy to do[11].

    footnote

    [How to use footnotes]
    1. ^ Gyosuke Kamiki "The most interesting and understandable mechanism of the latest economy-solving simple questions from macroeconomics to microeconomics (textbooks not taught at school)" Nippon Bungeisha, 2008, p. 164.
    2. ^ a b "Negative interest rates? A mysterious phenomenon in Europe". Sumitomo Mitsui Trust Bank (September 2015, 4). 2015/1/29Browse.
    3. ^ "ECB, negative interest rate, etc. additional easing decision Governor" not the end ""Reuters. (June 2014, 6). http://jp.reuters.com/article/topNews/idJPKBN0EG1ER20140605 
    4. ^ “First negative interest rate = shortage of goods and flood of purchases-short-term government bond auction”Jiji.com. (January 2014, 10). originalArchived as of October 2014, 10.. https://archive.md/wqWQW 
    5. ^ “Bonds / Short-term Overview Foreign Exchange / Financial Market 2-Year Bonds, First Negative Yields on Interest-bearing Government Bonds”Nihon Keizai Shimbun. (June 2014, 11). https://www.nikkei.com/article/DGXLASFL28HCA_Y4A121C1000000/ 
    6. ^ "Negative interest rate to prevent the appreciation of the franc = upward pressure due to low crude oil prices-Swiss central bank"Jiji.com. (January 2014, 12). originalArchived as of October 2014, 12.. https://archive.md/C2oL1 
    7. ^ “Negative interest rate applied, 8.9% of current deposit”. Qnew News. (February 2016, 2). http://qnew-news.net/news/2016-2/2016021702.html 
    8. ^ "Governor Kuroda" Summary of One Person "Emphasis on the Effect of Negative Interest Rate"Nihon Keizai Shimbun. (June 2016, 8). http://www.nikkei.com/article/DGXLZO06632720Z20C16A8EN2000/ 
    9. ^ a b c "Hungary introduces negative interest rate 5th case in Europe”(Japanese). Nikkei newspaper electronic version. 2019/8/19Browse.
    10. ^ "Some countries get interest rates when they borrow a mortgage-the negative interest rates are up to this point”(Japanese). Bloomberg.com. 2019/11/11Browse.
    11. ^ "Swiss UBS, negative interest rate on large personal deposits from November”(Japanese). Nikkei newspaper electronic version. 2019/10/29Browse.

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