Riksbank ‘Sadomonetarists’ Exit Negative Rates To Fanfare

Riksbank ‘Sadomonetarists’ Exit Negative Rates To Fanfare

Dust off the Paul Krugman jokes — the “sadomonetarists" in Sweden have exited negative rates. That’s a reference to Paul’s cartoonish 2014 blog post in which he famously accused the Riksbank of being a bunch of prosperity-hating heretics for hiking rates in and around the European debt crisis. Sweden, Krugman lamented, went from “rock star of the recovery” to “Japan”, and all thanks to “a classic case of sadomonetarism in action.” He needn't have fretted. The “sadomonet
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