Why 1 per cent interest rates could shake everything up after a generation of deflation
Source: Financial Times
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DW NOTE
The BOJ held rates near zero for twenty-seven years while inflation averaged 0.2%. Now it wants 1% — still negative in real terms — and the FT frames this as a seismic shift. A generation of pensioners lived on returns below the cost of storing cash, and the adjustment being celebrated is to slightly less confiscatory rates.
Oil prices hit the $100 per barrel mark early on Wednesday in Asian trade as the ongoing crisis in the Middle East has diminished hopes of U.S.-Iran talks and a return to normal oil flows soon. As of early morning trade in Europe on Wednesday, the international benchmark, Brent Crude, jumped by 2.2
Bitcoin advanced to as high as $79,700 while Brent crude topped $100 and European shares fell, leaving crypto tracking gold rather than equities.
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