Welcome to the Financial Times Lexicon

Browse thousands of words and phrases selected by Financial Times editors and suggest new terms for the glossary.

 

Term of the day

zero interest rate policy zirp

A zero interest rate policy or zirp is a route taken by a central bank to keep the base rate at zero per cent in an attempt to stimulate demand in the economy by making the supply of money cheaper. The term is also used to describe a near zero benchmark rate set by countries such as the UK in the post financial crisis years, which kept interest rates near to zero and accompanied that policy with measures such as quantitative easing.

 

zirp in the news

In July 2012 the FT's markets blog, Alphaville,...