Banking, borrowers, Central Bank, Central Banks, Christine Lagarde, ECB, ECB President, economics, Economy, Euro, European Central Bank, European Union, Fiat, Money Printing, Negative Interest Rates, negative rates, savers, Slave Society, Trade-off

The European Central Bank President Christine Lagarde is keeping the central bank’s monetary easing policies unchanged according to her statements from a press conference last Thursday. Moreover, the central bank’s Twitter account recently shared a video of Lagarde defending negative interest rates, as the bank’s President stresses that they “support companies and people in the eurozone.â€

ECB President Christine Lagarde Wants to Preserve Favorable Financing

Since well before Covid-19, a great number of central banks started to initiate monetary easing practices and pushing interest rates down to zero or below. On Thursday, Lagarde spoke during a press conference after the European Central Bank (ECB) decided to keep policies the same after keeping rates below zero and issuing lots of fiat. Lagarde says that the financing conditions must be maintained to fend off the economic effects of the global pandemic.

“Preserving favorable financing conditions over the pandemic period remains essential to reduce uncertainty and bolster confidence, thereby underpinning economic activity and safeguarding medium-term price stability,†the ECB President Lagarde emphasized on Thursday to members of the press.

The ECB also said last month that the central bank was planning on increasing government bond purchases and data shows the bank did just that. Statistics from Deutsche Bank indicate that the ECB acquired 74 billion euros in bonds in March after it only purchases 53 to 60 billion euros during the first two months of 2021. On Thursday, the ECB highlighted that the increase in government bond purchases would continue to expand.

“The Governing Council expects purchases under the PEPP over the current quarter to continue to be conducted at a significantly higher pace than during the first months of the year,†the ECB said during the press conference last week.

Lagarde Speaks About the Resentment of Savers, ‘We Have to Look at the Whole Economy’

Further on April 23, the ECB’s official Twitter account wanted the public to “watch†a video featuring Lagarde defending negative interest rates in a video-tweet. “President Lagarde responds to criticism about negative interest rates and describes how they support companies and people in the eurozone,†the ECB account stated. In the video, Lagarde does defend negative interest rates as she believes they are good for the people who need them.

“I completely appreciate that people who are saving are not satisfied with being charged the negative consequences of negative rates, but we have to look at the situation from a global point of view,†Lagarde said in the video. “We cannot look at a particular depositor, or a particular category, we have to look at the whole economy.â€

Lagarde further added:

The ECB’s tweet didn’t go over so well on Twitter as the commentary Lagarde made was controversial, to say the least. “Sure, don’t incentivize savers, but encourage borrowers,†one person replied to the tweet. “The only way to make sure that a slave society is firmly in place,†the individual added. Another person responded: “The frantic gasps of a drowning system. The saving/borrowing/interest rate/taxation levers used to steer capitalism quite well.â€

The individual who remarked about the slave society stressed:

What do you think about Largade’s commentary about negative interest rates and resentment from savers? Let us know what you think about this subject in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Du lịch nhật bản, hướng dẫn du lịch Nhật và đánh giá địa điểm Nhật Bản Japan travel news, japan travel guides, japan holiday destinations and japan reviews

RELATED NEWS

Hungary to Cut Tax on Crypto Profits in Half, Down to 15%

The government in Budapest has put forward measures aimed at streamlining taxation and reducing the tax burden on businesses and citizens. As part of the package, Hungary plans to cut the tax levied on capital gains from cryptocurrency transactions, expecting to increase budget revenue with the move. Tax Cut to Attract Cryptocurrency Traders to Hungary […]

Xem chi tiết: Hungary to Cut Tax on Crypto Profits in Half, Down to 15%

Bank of Israel Drafts Model of a Digital Shekel

The central bank of Israel has offered a glance at what a digitalized version of the national fiat currency may look like. According to a released “draft model†of the coin, Israelis should be able to use the digital shekel in payments, even offline, and convert it to cash at any moment. The Israeli central […]

Xem chi tiết: Bank of Israel Drafts Model of a Digital Shekel

Hungary to Cut Tax on Crypto Profits in Half, Down to 15%

The government in Budapest has put forward measures aimed at streamlining taxation and reducing the tax burden on businesses and citizens. As part of the package, Hungary plans to cut the tax levied on capital gains from cryptocurrency transactions, expecting to increase budget revenue with the move. Tax Cut to Attract Cryptocurrency Traders to Hungary […]

Xem chi tiết: Hungary to Cut Tax on Crypto Profits in Half, Down to 15%

Biden Economics: US Jobs Report Lackluster, Unemployment Extensions Hammer Supply Chain, Americans Want More Stimulus

Recent headlines in numerous publications claim the U.S. economy is set for rapid expansion and a “post Covid boom†thanks to Joe Biden’s economic plans. However, contradicting reports identify certain struggling elements, such as the supply chain, which have been ravaged by bureaucratic mandates, and suggest a bleaker circumstance entirely. Biden Administration Scrambles After a […]

Xem chi tiết: Biden Economics: US Jobs Report Lackluster, Unemployment Extensions Hammer Supply Chain, Americans Want More Stimulus

ECB Chief Lagarde: Cryptocurrencies Prone to Money Laundering, No Intrinsic Value, Buy if Prepared to Lose all Money

The president of the European Central Bank (ECB), Christine Lagarde, warned that cryptocurrencies are prone to money laundering. She agrees with the governor of the Bank of England, Andrew Bailey, who recently said that cryptocurrencies have no intrinsic value and investors should be prepared to lose all their money if investing in them. ECB Chief […]

Xem chi tiết: ECB Chief Lagarde: Cryptocurrencies Prone to Money Laundering, No Intrinsic Value, Buy if Prepared to Lose all Money

China’s Digital Yuan Smart Card to Feature Biometrics and Fingerprint Scanning

The People’s Bank of China’s upcoming digital yuan card will feature IDEX Biometrics and fingerprint scanning, according to regional reports. China’s “Digital Currency Electronic Payment†or DCEP is getting closer toward launch by the day. Last week, smart card manufacturer Chutian Dragon and IDEX Biometrics announced the companies are working on a digital yuan payments […]

Xem chi tiết: China’s Digital Yuan Smart Card to Feature Biometrics and Fingerprint Scanning

Bank of Russia Tests Services Related to Cryptocurrencies

Russia’s central bank has examined three platforms offering crypto-related services. The projects have been tested in its regulatory sandbox in the course of 2020. Bank of Russia has received dozens of requests to pilot various financial services since it created the closed regulatory environment around three years ago. CBR Pilots 3 Crypto Projects in 2020 […]

Xem chi tiết: Bank of Russia Tests Services Related to Cryptocurrencies

Kazakhstan Is Preparing the Launch of a CBDC Pilot With Private Financial Companies

Central bank digital currencies (CBDCs) are steadily becoming a serious discussion among governments globally, with Kazakhstan as the latest country unveiling its plans. The National Bank of Kazakhstan is making preparations to launch a CBDC pilot program soon. The National Bank Released a Public Consultation Paper According to the announcement published on their website, the […]

Xem chi tiết: Kazakhstan Is Preparing the Launch of a CBDC Pilot With Private Financial Companies

Fintechs Invited to Work on Georgia’s Central Bank Digital Currency

‘Gold Is Clearly Being Replaced by Digital Gold’- Precious Metal Markets Spike, Strategist Mike McGlone Calls PM Action ‘Meh’

Crypto Derivatives Exchange FTX Starts Offering Lumber Futures Amidst Commodities Price Boom

Fintechs Invited to Work on Georgia’s Central Bank Digital Currency

‘Gold Is Clearly Being Replaced by Digital Gold’- Precious Metal Markets Spike, Strategist Mike McGlone Calls PM Action ‘Meh’

Venture Capitalist Proposes a Single Decentralized Crypto as a Solution to Boost Africa’s Inter-Regional Trade

Employer Wants Cryptocurrency Back From Employee After Price Soars 700%, Offers to Pay in US Dollars Instead

Employer Wants Cryptocurrency Back From Employee After Price Soars 700%, Offers to Pay in US Dollars Instead