Negative interest rates are coming and investors will now be looking to bolster their portfolios to ‘get ahead of the curve and build wealth’, says the CEO and founder of one of the world’s largest independent financial advisory organizations.
deVere Group’s Nigel Green is speaking out after rate options, which gauge monetary policy forecasts, implied on Monday a 23% likelihood that the key federal funds rate will drop below zero by the end of 2020, according to BofA Securities data.
It’s not just the U.S., the world’s largest economy, which is moving towards this scenario.
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On Tuesday, the Deputy Governor of the Bank of England also suggested that the UK may be headed toward negative interest rates.
Mr Green comments: “A new global era of negative interest rates would have been unimaginable even a few months ago. But this has now changed due to the coronavirus.
“As central banks around the world grapple to control the economic impact, it can be reasonably