Central Bank Independence - Lessons from History

Don’t miss the Nicolai Rygg virtual panel debate 2021 with Professors Stefano Ugolini, Barry Eichengreen, Harold James, Chief Economist Andrew Haldane and Deputy Governor Ida Wolden Bache.

[@timdeutschmann5894]

Thank you for this enriching and enlightening well researched contribution! I really suggest, to end the drama around the zero-lower-bound dogma and - of course - to end the silence on the other, anti-capitalist half of monetary politics. We should broadly open the pathways for central banks to navigate deeply into negative interest rates territory since a vast majority of the relatively poorer people - in Germany est. 85 % - will benefit from negative interest rates on loans. The interesting question is then: how will the negative interest rates in the money system affect the wages, the rents for housing and other types of interest? How will the balance between public and private sector evolve? What will happen to the exchange ratios? How will the sign and the value of the inflation rate depend on the reserve requirement? Won't we get negative inflation in a full-reserve-banking-system with negative interest rates on deposits and loans?

[@joseoswaldomartinezrodrigu154]

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