Pedestrians holding umbrellas walk past the Bank of Japan (BOJ) headquarters in Tokyo, Japan, on Thursday, April 28, 2016. The BOJ held off on expanding monetary stimulus at its monthly meeting in April, as Governor Haruhiko Kuroda and his colleagues opted to take more time to assess the impact of negative interest rates. Photographer: Bloomberg
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

Negative interest rates are causing a major problem in the global economy

The unintended consequences of sub-zero and ultra-low rates are eclipsing the supposed benefits

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Pedestrians holding umbrellas walk past the Bank of Japan (BOJ) headquarters in Tokyo, Japan, on Thursday, April 28, 2016. The BOJ held off on expanding monetary stimulus at its monthly meeting in April, as Governor Haruhiko Kuroda and his colleagues opted to take more time to assess the impact of negative interest rates. Photographer: Bloomberg
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