Report
Two theories to be taken seriously in light of the expansionary monetary policy’s lack of effect on the euro-zone economy
Despite the euro zone’s highly expansionary monetary policy since 2014, actual and potential growth as well as inflation and expected inflation all remain low in the zone . This gives credence to two theories: Interest rates that are kept at zero into the medium term weaken the economy by weakening banks and their lending capacity; “Neo-Fisherismâ€: a long period of low nominal interest rates leads to lower inflation in the medium term.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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