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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
Add BT as a preferred sourcePublished Tue, Apr 19, 2016 · 09:50 PM
DeeperDive is a beta AI feature. Refer to full articles for the facts.
London
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.
Why the squirreling? One possible reason is the creeping imposition of negative interest rates across the world, which could make it more rewarding to bypass banks - and a safe or vault is, well, more secure than a mattress.
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