A Citibank analyst warns that negative rates in Europe could stay for years. Wake up Americans because the longer they hang around the greater chance of a cashless society happening:
Like the Pay Cash Only Movement page: https://www.facebook.com/Pay-Cash-Only-Movement-1486591244977682/In our view, ongoing inflation
undershoots and a continuing readiness of central banks to pursue
currency weakening (or at least the avoidance of an appreciation) as an
integral part of their pursuit of their inflation targets or dual
mandates suggest that the recent trend towards (more) negative policy rates is likely to continue.Indeed, negative policy rates are likely to become a regular feature across many countries in coming years and we suspect that policy rates could fall further, perhaps significantly further, than our current forecasts suggest.
Recent developments in financial markets and the greater risks to the
global growth outlook raise the likelihood of more and deeper policy
rate cuts across a range of countries.
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