That's how you fight the credit crunch - negative interest!
Posted: Thu Sep 03, 2009 8:02 am
http://www.riksbank.com/templates/Page.aspx?id=12182
This looks awfully clever - rather than paying banks interest for parking their money in their central bank accounts, they are getting charged for it. If that doesn't get banks lending, I dunno what will. Once again, hurray for Sweden!
This looks awfully clever - rather than paying banks interest for parking their money in their central bank accounts, they are getting charged for it. If that doesn't get banks lending, I dunno what will. Once again, hurray for Sweden!