Negative interest-rate policies get qualified nod from IMF

Tokyo

THE International Monetary Fund (IMF) has sprung to the defence of central banks' negative interest-rate policies at a time when these are coming under increasing criticism from business and financial firms as well as from bank depositors and savers in Japan and elsewhere.

In a blog published on Sunday, IMF financial counsellor Jose Vinals and others said "we support the introduction of negative policy rates by some central banks given the significant risks we see to the (global) outlook for growth and inflation".