– 150 Years Of Global Monetary Policy Summed Up In One Word (And 1 Chart) (ZeroHedge, Dec 20, 2014):
“Zero…”
With all the “talk” of diverging paths of monetary policy… one could be forgiven, if glancing at the chart above, for thinking the inevitable endgame of Keynesianism is very much at hand as first The BoJ, then The Fed, then Europe all enter ZIRP… and now NIRP…
Source: Goldman Sachs