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The sub-zero club: getting used to the upside-down world economy

Almost 500 million people now live in countries where interest rates measure less than zero
Wednesday, April 20, 2016 - 05:50

ECB president Mario Draghi currently charges 0.4 per cent on the euros deposited by banks in his coffers overnight.


JAPANESE families seem to have a sudden affinity for home safes. According to the Tokyo-based manufacturer Eiko, shipments have doubled since last fall. And in Germany, insurer Munich Re has stashed some 10 million euros (S$15 million) worth of its own cash into vaults.


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