July 16, 2016

Negative interest rates in Japan made people hoard money

“Negative rates are turning out to be a dirt sandwich, especially for Japan...They thought that that was going to get people out spending. And what happened is they got people to go and buy safes and put money into their safes and hoard money.” 

Voya Financial Inc.’s Karyn Cavanaugh.

Japan’s ‘dirt sandwich’ of negative rates difficult to swallow: analyst
Japan Times Newspaper
JUL 14, 2016

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