Taxing Money: BOJ's Negative Rates Are 'Economic Kamikaze'

Friday, January 29, 2016

CNBC: The Japanese central bank has only dug the country deeper into a hole by adopting negative interest rates, Lindsey Group chief market analyst Peter Boockvar said Friday.


"I think it's economic kamikaze," he told CNBC's "Squawk Box." "Let's tax money and hope things get better. Let's create higher inflation for the Japanese people, who are barely seeing wage growth. And let's amp up the currency battles, and hope everything gets better."
The Bank of Japan surprised markets on Friday by pushing interest rates into negative territory for the first time ever. By doing so, the BOJ is essentially charging banks for parking excess funds.
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