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The lords of finance are losing their touch: the world is a mess

By David Scott | Tuesday 29 March 2016


 


Hungary has become the latest European economy to slash its main interest rate into negative territory as it attempts to revive growth and stoke inflation. The National Bank of Hungary made the surprise move to trim its deposit rate to a record low of -0.05pc from 0.1pc, becoming the world's sixth monetary authority to take rates below zero. Hungary has joined Sweden, Denmark, Switzerland, Japan and the Eurozone, which have all ventured into sub-zero territory and Norway has indicated that it could become the next European economy to venture into negative territory.  


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