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Negative interest rates elicit negative reactions

A survey shows that zero is a major psychological barrier for savers as 77% of respondents will withdraw their money from their savings accounts if rates went negative.

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The Bank of Japan (above) has recently followed its European counterparts in imposing negative rates on the reserves that banks hold with them.

IN their struggle to keep up the momentum of economic growth, central banks are turning to negative interest rate policy (NIRP) as their weapon of choice. Amid doubts about the impact of further large- scale asset purchases, the Bank of Japan (BOJ) has recently followed the European Central Bank

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