Bank of Japan launches negative rates

Columnist Tuesday 16/February/2016 12:49 PM
By: Times News Service
Bank of Japan launches negative rates

Bank of japan's negative interest rates came into effect on Tuesday in a radical plan already deemed a failure by financial markets, highlighting Tokyo's lack of options to spur growth as global markets sputter. The central bank, which announced the shock decision on January 29, will charge banks 0.1 per cent for parking additional reserves with the BOJ to encourage banks to lend and prompt businesses and savers to spend and invest.