If you happen to be the only one with negative interest rates, you also weaken your currency, which means you make your exports more competitive.
Mohamed El-ErianInvestors should invest on what they know. The biggest mistake is to invest on what they don't know.
Mohamed El-ErianAs a whole, investors should welcome attempts to safeguard the integrity of markets. You need very clear rules applied to markets.
Mohamed El-ErianThe theory is that if you take interest rates negative, people are going to say, "That's a silly game! I'm not going to lend my money to governments who want me to pay them. I am going to go into the stock market where I can get positive returns!"
Mohamed El-Erian