Japan’s Economy
Did you know that in Japan when you deposit your money you don’t get any interest rate in fact the bank Cuts 0.1% from your deposit to run the bank this is what we know as negative interest rate and Japan is preparing to remove it Banks generally have a positive interest
Rate and you get your interest rate by depositing money in the bank this is done to control inflation when a person deposits their money in the bank they have less cash to spend hence controlling the inflation this in the reverse is known as negative interest rate and is done to control deflation
That is constant fall of prices Japan has been experiencing deflation for many years and this has prevented their economy’s growth but finally after 8 years Japan has decided to remove their negative interest rate as they have seen a constant 2% inflation in these past 3 months Japan wants to increase their
Interest rate to a positive 0.1% which will be a very big deal for their economy
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