What are Negative Interest Rates? Posted on 8/31/2020 at 13:47:34 by Bill Crawford, (14)
This morning I heard the term "negative interest rates" being bandied about on the economic news.
I've heard that term used before, but have never really understood what it means. (It sounds like the bank would be paying you to borrow money!).
I checked it out and found the below-linked explanation of negative interest rates.
It turns out that , contrary to meaning that the bank will pay you to borrow money, it means that the bank will charge you for keeping money in a savings account.