Japan adopts negative interest rate in surprise move

In a surprise move, the Bank of Japan has introduced a negative interest rate.

The benchmark rate of -0.1% means that commercial banks will be charged by the central bank for some deposits.

It is designed to encourage them to use their reserves to lend to businesses in an attempt to counter Japan's economic stagnation.

The charge does not directly apply to ordinary customers' accounts.

The country is desperate to increase spending and investment

BBC News

Related News

Browse By Category

Share:

Send Us A Message