观点货币政策

Central bankers must explain the benefits of negative rates
央行需要解释负利率的好处


尤尼乌斯:各国央行需要说老实话,坦承商业银行将负利率传递给客户是正确做法,因为实行负利率的本意就是希望家庭少存钱、多消费。

Policy rates of less than zero seem to work more smoothly than many had feared. Even in countries such as Switzerland — where the benchmark deposit rate is minus 0.75 per cent — rates remain more than the much-discussed “lower bound”, below which their economic disadvantages start to outweigh their advantages.

低于0的政策利率似乎运行顺利,好于许多人曾经担忧的情况。就连在瑞士这样的国家——该国的基准存款利率为-0.75%——利率仍保持在广泛讨论的“下限”(如果利率低于“下限”,其manbetx20客户端下载 弊端将开始超过益处)以上。

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