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Negative Interest Rates at Swedish Central Bank
This has not gotten much press here in the US and got by me. Needless to say this is uncharted territory as the Swedish Central Bank is charging banks to hold their excess reserves in a bid to force them to lend.
As the world’s original central bank, it’s fitting that Sweden’s Riksbank has become the first to breach the zero-bound line by lowering one of its key interest rates to negative 0.25% since July 8.
The drop in the price of money below zero is reportedly the first of its kind. The dip refutes the idea…
1Sep2009 | The Real Deal | 0 comments | Continued
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