What should financial regulators do to ensure operational readiness for zero or negative interest rates?
Since the global financial crisis of 2007-2008, interest rates in many countries have reached historically low levels. Central Banks in some countries such as Sweden, Denmark, Japan and Switzerland, as well as the European Central Bank, have even resorted to negative or zero reference interest rates as a monetary policy tool, relying on the transmission mechanism of monetary policy to meet their policy objectives. Negative or… Read More »