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How Sweden's negative interest-rates experiment has turned economics on its head
By Peter Spence
The Telegraph, London
Sunday, September 27, 2015
It has long been believed that when it comes to interest rates, zero is as low as you can go. Who would choose to keep their money in the bank if they had to pay for the privilege?
But for the people who control the world's money, this idea has recently been thrown out the window. Many central banks have pushed their rates into negative territory and yet the financial system has still to come to an abrupt end.
It is a discovery that flips on its head the conventional idea of how authorities could respond to future economic crises -- and for central bankers, this has come as a relief.
Central bank policymakers had believed they had run out of room to support their respective economies, with their interest rates held close to the floor. ...
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