NEWS Release - Stability, equity and monetary policy - Mario Draghi, President of the ECB, 2nd DIW Europe Lecture - German Institute for Economic Research (DIW) - Berlin, 25 October 2016
The most salient feature of the landscape facing monetary policy today is the low level of nominal and real yields everywhere. Among the G7, three countries currently have negative yielding 5-year bonds – Germany, France and Japan – representing 14% of world GDP. And that proportion rises to 22% if we include bonds yielding less than 1%.