For many, it is still too early to judge whether they have worked or caused lasting damage, but one CEO is in no doubt, calling sub-zero rates ‘a mistake’
It is the biggest monetary policy experiment of modern times. One that has divided economists, central bankers and politicians. But now that Sweden has called a halt to its five-year trial with negative interest rates, the serious work has begun on looking at whether it worked.
Sweden’s Riksbank, the world’s oldest central bank, was the first to take its main repurchase rate — at which commercial banks can both borrow or deposit money — negative in early 2015, to fend off deflation, only returning to zero in December.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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