Tuesday, April 19, 2016

Portugal é a Alemanha

Why Germany doesn’t like negative interest rates, por Tyler Cowen:

The business models of German financial institutions depend critically on the presence of positive nominal interest rates. The International Monetary Fund noted in its latest Financial Stability Report that the pre-tax profits of German and Portuguese banks are most affected by negative rates.

That is from the always superb Wolfgang Münchnau at the FT.

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