Benn's Most Recent Stories

  • July 2, 2014

    Last month, the European Central Bank became the first central bank to charge banks for depositing their extra reserves with them. The idea is to encourage banks to lend privately instead. But as the Council on Foreign Relations’ Benn Steil and Dinah Walker report, banks are not feeling the incentive; they’re keeping their money at the ECB, despite the lowered — now negative — interest rates. Continue reading