Sweden has cut deposit rates to -0.25%.
Submitted by UKLooney on Mon, 07/13/2009 - 12:44
in
Quote: "It would be fitting if there was an immediate run on deposits. And if that happens what will Sweden do? Halt deposits? Sweden risks (and deserves) a currency collapse and bank runs for this insane effort. Look for capital flight in Sweden."
http://globaleconomicanalysis.blogspot.com/2009/07/sweden-cu...
I think that's deserving of extreme language - start with holy fucking shit, and work your way upwards - and if I was a Swede with a bank account I'd be screaming quite loudly about now.
They're now going to be charged interest for saving money.
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I am Swede and they started lowering interest rates not long ago
Before that we had 4-5 % and they had a meeting with other central banks, soon after that they started lowering and now its only 0.25 % yeah..so you don´t pay much for borrowing and it keeps the real estate prices up. I would guess that is the goal. Also it weakens our currency everytime they lower it.
/Mike
Front Fell Off
http://www.youtube.com/watch?v=WcU4t6zRAKg
/Mike
Front Fell Off
http://www.youtube.com/watch?v=WcU4t6zRAKg
They're penalizing saving,
They're penalizing saving, when the problem is people aren't saving enough money.
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Are they trying to get people to abandon their currency?
Why own the paper at annual cost as opposed to owning real money at no cost?
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I don't think it affects the
I don't think it affects the average Swede its just the rate the central bank is charging the other banks. Basically the central bank is telling member banks to loan the money out and don't return it to them.