The negative rate cage fight
- Bank of England governor Carney declared negative rates to be wrong. Fed vice-Chair Fischer declared negative rates to work. Which north American is right?
- Negative rates work as a wealth tax. If the aim of negative rates is to change asset allocation, then they work. If the aim something else, the evidence is less compelling
- Euro area consumer price inflation is due, after a weaker German read yesterday. The weaker German data was oil affected, however, and that will not last
- The British cabinet gather together to decide how to exit the EU, at a time when more EU politicians are listing all the toys the UK cannot play if they leave the EU sandbox