Those Hostile to Negative Rates Are ‘Ignorant,’ Rogoff Says
- Says negative rates are ‘long-run’ policy to be successful
- Says successful implementation needs ‘whole government’
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The critics of negative interest rates are “ignorant” in their analysis of the unprecedented measures forced on central banks across the world over the past years, according to U.S. economist Kenneth Rogoff.
It’s impossible to analyze the effects of the “early experiment” with negative rates because central banks were left to themselves amid a global fiscal retrenchment, Rogoff, a professor at Harvard University, said Wednesday in an interview after speaking at the Skagen Funds annual conference in Oslo.