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ECB Keeps Rates Unchanged
While today's Draghi press conference is expected to be rather contentious, nobody was expecting much if anything from the actual quantitative rates announcement. Sure enough, that's precisely what the ECB delivered when moments ago it announced it would keep all three rates unchanged, with the Deposit Facility rate continuing its trek through NIRP land at -0.20%.
At today’s meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.05%, 0.30% and -0.20% respectively.
The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 2.30 p.m. CET today.
Next up: the press conference in 45 minutes.
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I can't wait until I must pay a US bank to hold my money.
I have difficulties imagining the FED asking money from US banks in the first place, even if it's for holding "parked" "cash" in their accounts
"It just doesn't need anything yet."
Cops in the land of the free will hold your money for free. Forever
Over $2.5 billion liberated from 62,000 motorists but that is just a start
Right about now, corruption is good. It should be totally widespread. Corruption is more harmful if its prevalent within a particuler group and rest of the people are honest.
There will be a time when some folks will be stealing off those cops.
I really cannot make sense out of these things.
Do they really want people to take hteir money out of the banks?
Or, maybe they just want people to take their money out of the banks and spend it, knowing they money would end up in the banks anyway, with a different name and account number?
There was a time when banks actually wanted you to keep your money with them.
are you talking about "the Deposit Facility rate continuing its trek through NIRP land at -0.20%"?
it's not about people's accounts at banks. it's about bank's accounts at the ECB. it's not "they want people to spend it", it's "they want banks to lend it"
and to this, the old, old national banker's witticism: "you can lead a horse to water, but you can't make it drink". translated: eurozoners ain't borrowing more
And commercial banks are offering what percentage for customer deposits, even after hinting that they can get haircuts?
Unfortunately the idea seems to be catching on in fatherland retail banking. How they don't expect this to cause runs is beyond me.
Does it say Cog Dis Reserve Note on "your" 'money'?
Well, apparently that is only a privilege for the sovereigns.
Rest of you low life, born in the wrong family and place morons can suck melons.
Since I willingly, even though it may be reluctantly, participate within the financial system......yes, it is my money. I am part of the problem. Are you?
For now...
:)
Why didn't the ECB give me a toaster with my NIRP Account?
I got a Spiderman towel at least.
You lucky bastard!
american banks will soon reach parity with places like Payday. then, the only competative rates the consumer can shop for will be how much he must pay to get his money.
A scene coming to a theatre near you:
IPO That Brought In $1 Billion in March Implodes in Denmark
By Peter Levring
Nov 6, 2014
http://www.bloomberg.com/news/2014-11-06/ipo-that-raised-1-billion-implo...
excerpt:
OW Bunker A/S (OW), which provides fuel to the marine industry, said it couldn’t persuade its bankers to provide the cash it needs to keep doing business. That followed an announcement last night revealing senior OW Bunker employees in Singapore committed fraud, costing as much as $125 million.
The company, whose shares have been suspended since yesterday, now says investors need to assume that its equity has been wiped out as it files for an in-court restructuring. Just eight months ago, investors were lining up, eager to throw their money into an IPO worth almost $1 billion and drove the company’s shares up 21 percent in their first day of trading.
Commodity and related services companies up for grabs. Bankers moving in.
Where's my hopium??? I need it to survive. I'll do anything, including crash the market...now give me my hopium!