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Panoramic outlook : Testing the zero bound: the strange effects of a strange recession, in 2020 and beyond
This year has seen the sharpest and largest economic downturn the modern global economy has ever seen. However, this recession is a rather strange one: this time really is different. This recession has not been caused by any of the usual suspects. This year has pushed investors to accept more than ever the bizarre situation of paying for the privilege of lending out their money – testing the zero bound in interest rates and leading to some very strange consequences indeed.