PETALING JAYA (July 10, 2011): Bank Negara Malaysia's (BNM) decision to leave the key interest rate unchanged last week betrayed policymakers' concern about growth risk, which appeared to have trumped worries about inflation.
Never mind that savers will continue to see negative real returns from their deposits.
http://www.thesundaily.my/news/74500
Received an email with subject: "How to Beat Bernanke's War on Savers" on 10th July, and the news appeared in newspaper on 11th July. Call it co-incidence?
Some interesting points in the email from my advisor:
There is no other way to put this because it is true: Ben Bernanke hates savers. With his zero interest rate policy (ZIRP), he has virtually declared war on each and every one of them. In his efforts to push asset prices higher, Ben believes savers should actually be pushed from the nest into the world of stocks. After all, in Ben’s world, the safety of money in the bank earning a reasonable interest rate is a dangerous thing... That’s why folks with savings have been virtually forced out into the markets these days in a search for higher yields. Ben knows those 1.25 % savings account and CD rates simply won’t cut it. |
Note also that "The result is that high-paying dividend stocks have been among the best performers in the market since this disaster began."
Related readings:
零利率是向存款人征税，给借款方补贴。
向实体领域借款方提供补贴没问题，他们可能是真正需要贷款去开展经济活动。
注：ZIRP 是在补贴银行系统和银行从业者的红利。
Savers are Losers
http://howtze.blogspot.com/2010/10/savers-are-losers.html
