Countries currently with negative interest rates - Japan, Germany, ECB, Denmark, Sweden and Switzerland. They are nominal interest rates. If inflation is factored in, then some countries with zero or close to zero interest rates (eg. US, Australia, Spain, Italy and NZ for that matter) are already in real negative interest rates territory.
Adrian Orr has mentioned as a possibility while Westpac Bank predicts it will happen in NZ by year end.
Think of what that means to the billions of dollars in bank deposits in NZ?
As someone