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for assessing this balance and applies it to four OECD economic areas: the euro area, Japan, the United Kingdom and the … the euro area and Japan. In the United Kingdom, the assessment is less clear cut. …
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The negative interest rate policy (NIRP) has been in place in the euro area since June 2014. While the NIRP can provide additional monetary accommodation in the situation where the neutral rate of interest is most likely negative, there are also unintended consequences for banks’ profitability...
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