BoJ’s Nakaso insists deposit rates are not going negative
Deputy says European experience implies depositors will not face negative rates
Deposit rates in Japan will not turn negative, despite the Bank of Japan's (BoJ) negative interest rate policy, deputy governor Hiroshi Nakaso said today (March 3).
In remarks to business leaders in Okinawa, Nakaso tackled concerns the BoJ's monetary policy would inflict negative rates on depositors. Pointing to the European experience, where rates in many countries are lower than in Japan, he said even their negative deposit rates are "hardly seen".
There is no doubt a "wide range" of rates
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