When European Central Bank Chief Mario Draghi added to the 619 rate cuts since the 2008 financial crisis last week, he told reporters it would be the last one. Analysts at Citigroup aren't so sure. Draghi pushed the deposit rate – the rate at which lenders have to pay to keep money at the ECB — down to minus 0.4% in an effort to pull inflation up from below 0% to the 2% target. Negative rate policies have come to dominate central banks in developed countries. Now, desperation is taking hold, according to Citi analysts (emphasis ours): In our view, ongoing inflation undershoots and a continuing readiness of central ... (full story)