The central bank has imposed a 0.1% fee on deposits in an attempt to force more borrowing as way out of the deflationary spiralJapan’s central bank has made a shock decision to adopt negative interest rates,in an attempt to protect the flagging economy from market volatility and fears over the global economy.
In a 5-4 vote, the bank’s board imposed a 0.1% fee on deposits left with the Bank of Japan (BoJ) – in effect a negative interest rate.
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Source: theguardian.com