Z.I.R.P.

Zero (Per Cent) Interest Rate Policy.

Z.I.R.P. is a method of attempting to stimulate an economy by bringing interest rates (near) to zero; it was introduced in Japan between 1998–2005. The possibility of a global Z.I.R.P in the wake of the credit crunch has recently been discussed by The Financial Times, Paul Krugman, and Faisal Islam.