Are You Ready For Negative Interest Rates?

While most Canadians today are unlikely to be familiar with the concept of negative interest rates, it is a policy that is likely to gain widespread adoption in countries such as Canada during the next significant global economic downturn. Indeed, the Bank of Canada has quietly added an explicit plan of negative interest rates to its Unconventional Monetary Policy (UMP) framework in preparation for a future economic crisis similar in scale to the Great Financial Crisis of 2008-2009. 1...