Negative Rates "A War On Savers" Says Macquarie

“Negative rates further disconnect savers from borrowers and are likely to discourage rather than encourage consumption and productive investment.” That’s the view of Macquarie equity research analysts Viktor Shvets, Chetan Seth and Xiao Wen as expressed in a research note from the bank issued today titled, “Negative rates and the war on savers”. Negative interest rates are now commonplace among developed markets. A policy experiment that started in Scandinavia and Switzerland to defend their currencies against the weakening euro has now spread to Euro itself and Japan, leaving only the US and UK (amongst developed nations) with positive policy rates,…