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Is the ECB "expropriating" savers? - Critique of accommodating central bank policies and the 'expropriation of the saver'

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Price FREE
Publisher European Central Bank
Publication date 15 May 2015
ISBN
Publication synopsis Are the European Central Bank’s low policy interest rates a tax on savers? A new study shows that the decisive factor for savers over the medium and long-term is not central bank policy interest rates but the state of the economy. What matters to savers is the real rate of return on their savings, which takes into account inflation, not the nominal interest rates set by the central bank.

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