Michael Murray: Ultra low and negative interest rates threaten adverse consequences for almost everyone
One disadvantage of having too much surplus cash at a time of low interest rates is that it reduces returns on capital employed
It is only a fortnight since I outlined, in this column, ten good reasons for not investing in banks. Bank of Ireland’s latest initiative reinforces one of those reasons. They had to come – negative interest rates. Starting with large corporates, the bank is imposing a modest charge on current account balances. Some large corporates appear to have ceased in any real sense to be customers of the Irish banks other than for ...
