Cash Is King as Europe Adapts to Negative Interest Rates:

The value of banknotes in circulation rose 6.5 percent last year, the most since 2008. There are financial reasons – including negative rates on deposits – but part of the increase could be related to the influx of refugees, who don’t have bank accounts.
“Stronger economic growth, low interest rates as well as maybe some worries
about more turbulence on financial markets are driving cash holdings,” said Johannes Mayr, an economist at BayernLB in Munich.

 

Read More: Cash Is King as Europe Adapts to Negative Interest Rates: Chart – Bloomberg Business