What happens when there are negative interest rates? Quite literally the world turns upside down.
When central banks enact negative interest rates, banks in individuals pay to save their money and get paid to take out loans. It’s the exact opposite of what happens today, But even more interesting, it’s happening in several countries around the world.
To name a few, Japan, Denmark, Switzerland, Sweden and the European Union all have negative interest rates, though in some countries it works better than others.
Watch the video above to find out how negative interest rates impact you personally and the country.