ECB’s Draghi Considering One-Upping Fed, Launching NEGATIVE Interest Rates! (NIRP)

ZIRP is so 2008 (-2015).  Bloomberg reports ECB head Mario Draghi is considering cutting ECB interest rates BELOW ZERO from their current 0.25%.
That’s right, Draghi is considering one-upping The Bernank himself, bypassing ZIRP, and going straight to NIRP (negative interest rate policy)!

Nothing like the smell of desperation in the morning.  Perhaps Draghi was listening when Soros stated yesterday that Europe has 3 days to solve the crisis?
Anyone remain unconvinced QE Will Go to Infinity??

Draghi May Enter Twilight Zone Where Fed Fears to Tread
European Central Bank President Mario Draghi is contemplating taking interest rates into a twilight zone shunned by the Federal Reserve.
While cutting ECB rates may boost confidence, stimulate lending and foster growth, it could also involve reducing the bank’s deposit rate to zero or even lower. Once an obstacle for policy makers because it risks hurting the money markets they’re trying to revive, cutting the deposit rate from 0.25 percent is no longer a taboo, two euro-area central bank officials said on June 15.
“The European recession is worsening, the ECB has to do more,” said Julian Callow, chief European economist at Barclays Capital in London, who forecasts rates will be cut at the ECB’s next policy meeting on July 5. “A negative deposit rate is something they need to consider but taking it to zero as a first step is more likely.”

Should Draghi elect to cut the deposit rate to zero or lower, he’ll be entering territory few policy makers have dared to venture.
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