"Pandora's Box Is Open": Why Japan May Have Started A 'Silent Bank Run' | Zero Hedge
It's -0.1%
Now listen guys, if the cut goes deeper as the article says, then depositors will have to pay the bank to hold deposits since its a negative rate. This has happened in other parts of Europe such as Switzerland and Sweden.
This is coming to many countries and possibly to the USA soon....
What will you do if you have $10,000 in the bank at -1% and you lose $100 every year? The answer is that you'll be tempted to spend the money on something and this is exactly what they're trying to do here.
After some years, to stop people drawing cash out instead, the next step is to ban cash.