How Canada is flirting with a bizarro world of negative interest rates

Financial Post

When the European Central Bank meets in March, markets anticipate that it will cut its already negative deposit rate further, deepening Europe’s multi-year experiment with sub-zero interest rates, which began in June 2014.

The ECB currently charges banks to park money with it as part of a policy where the official deposit rate is set at -0.3 per cent. In a normal interest rate environment, it would be paying banks that leave their money in its vaults. Three other countries — Denmark Sweden and Switzerland — now flirt with deposit rates as low as -0.5 per cent.

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