The Bank of Japan just stunned global markets by announcing negative interest rates

Thomson Reuters The Bank of Japan (BOJ) has just stunned financial markets, taking official interest rates into negative territory. Voting 5-4 in favor of the measure, the bank stated that it will charge an interest rate of -0.1% for excess reserves parked at the bank by financial institutions. It also noted that it will be willing to cut interest rates further if deemed necessary. Akin to the same policy implemented by the Swiss National Bank, The BOJ announced that it will adopt a tiered syste...