Central Bankers Act

Big Picture

March 6, 2015

Central bankers dominated the news this week as the heads of many of the world’s largest banks took steps to stimulate growth and boost inflation. European Central Bank (ECB) President Mario Draghi announced Thursday that the bank’s 60-billion euro per month bond-buying program will begin March 9. Interestingly, Draghi has said he will even buy negative yield bonds which prompted one French utility company to issue two-year corporate bonds Wednesday that pay 0% interest. Meantime, the Reserve Bank of India (RBI) cut its key lending rate for the second time this year taking it from 7.75% to 7.5%.

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