Tuesday, March 31, 2020
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Cashing In: How to Make Negative Interest Rates Work

By Ruchir Agarwal and Signe Krogstrup Español, Français, 日本語, Português Many central banks reduced policy interest rates to zero during the global financial crisis to boost growth. Ten years later, interest rates remain low in most countries. While the global economy has been recovering, future downturns are inevitable. Severe recessions have historically required 3–6 percentage points cut…