Here is a very interesting article from the Telegraph 13.10.20 by Ambrose Evans-Pritchard
Negative interest rates have failed everywhere and are the path to Soviet-style banking
If the global experiment with negative rates has taught us anything, it is they are a cancerous tumour on the free enterprise system
Negative interest rates, which had previously been dismissed by Bank of England Governor Andrew Bailey, are now firmly on the agenda.
Five years into the global experiment with negative interest rates, we know enough to conclude that it has destructive anthropological effects and does more economic harm than good.
Negative rates do not stimulate lending for useful economic activity. They damage “good” banks by eviscerating their bread and butter business model, but help “bad” banks play the casino.
They can increase precautionary savings by households and therefore drain money out of the real economy. They stretch public tolerance of overmighty central banks to near breaking point.
For the full article in pdf click on this link: