Kit Juckes, Global Head of FX Strategy, comments the Bank of Japan's introduction of negative interest rates
Kit Juckes, Global Head of FX Strategy at Societe Generale, comments the recent Bank of Japan's introduction of negative interest rates.
''First of all, forget the details, feed on the symbolism. Germany, Switzerland and Japan, the three great current account powers of the post Bretton Woods era, whose surpluses have financed the frivolity of baby-boomer Anglo-Saxons, are being told in no uncertain terms to stop saving. Whether it works or not matters less than the fact the disinflationary forces in the global economy are so entrenched that these central banks feel the need to set off on this path at all, following a trail of crumbs as they head for the gingerbread house.''
Kit Juckes, Global Head of FX Strategy at Societe Generale
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