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RE: BREAKING NEWS - RBS Becomes First Bank To Set Negative Interest Rates: It's Charging Large Firms To Hold Cash - So Could Families Be Next?
The head of the Bank of Canada has also speculated about the possibility of negative interest rates. I've yet to see a clear explanation of how they would work. Banks are not about to pay a borrower to borrow so I suspect they wont be applied to lending instruments. So what would their benefit be?
They are trying to stimulate spending. Either spend your money or we will take it bit by bit.