Germany Clings To Negative Interest Rates As European Banks In Trouble
November 20 (King World News) – Here is what Peter Boockvar wrote today as the world awaits the next round of monetary madness: Energy drove a 3.3% y/o/y increase in German PPI in October. Ex energy it was up just 1.6%. Keep in mind that Germany still has negative interest rates out 7 years. It will be most likely that the ECB goes into the next economic contraction/downturn with rates still negative. Good luck relying on them for help.
November 20 (King World News) – Here is what Peter Boockvar wrote today as the world awaits the next round of monetary madness: Energy drove a 3.3% y/o/y increase in German PPI in October. Ex energy it was up just 1.6%. Keep in mind that Germany still has negative interest rates out 7 years. It will be most likely that the ECB goes into the next economic contraction/downturn with rates still negative. Good luck relying on them for help.
Speaking of which, I’ve highlighted the plight of European banks all year and their damaged profitability. Today the Euro STOXX bank stock index is approaching a key level, that being the lowest level in two years. Today its down by 1.3% and lower for the 7th day in the past 9..."
at https://kingworldnews.com/this-chart-is-skyrocketing-and-it-spells-big-trouble-for-world-markets/
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