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How does Japan's banking system function with 0% interest rates?
If the interest rate offered on fixed deposits is as low as 0.2%, then nobody would keep their money in banks or would send money abroad to relatives so that they may invest it more profitably there.
If nobody keeps their money in banks, how does the bank get money to lend?
2 Answers
- ?Lv 71 decade agoFavorite Answer
Good point, probably economically unhealthy.
Interest is a bit like cholesterol, you don't want too much but none is quite bad for you. A bit like inflation. All around 3 - 5% is healthy.
- Steve BLv 71 decade ago
Well, the Japanese Government has been printing money for 20 years and I guess it all has to end up somewhere ...
