A Study on Negative Interest Rate in Monetary Policy: History and Contemporary Scenario
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As the unprecedented use of negative interest rate as a means of monetary policy to overcome stagnation of economy by the Central Bank of different countries, this research reviews the history of negative interest rates and briefs about the contemporary scenarios and proposals which grabbed the hype in economic literature and its academies. Negative interest rate proposal, although, termed as unrealistic and unconventional measures of monetary policy, it is now used as an alternative means to stimulate sluggish economy where deflationary forces are too strong. This article provides information about history of economic thought and how negative interest rate impacts on monetary and economic performance..
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