South central kansas | "With weak prospects for economic growth in many countries"
That is key sentence, weak growth, they want to penalize holding cash, but at the same time make it easier to extend credit.
The EU, Denmark, Sweden and now Japan all have negative rates, in essence it tells you how dismal their growth has been and the level of unconventional monetary policy.
Edited by zenfarm 1/30/2016 07:37
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Japan goes negative interest.
