Negative interest rate policy: Welcome to Wonderland

Sweden, Japan and Switzerland all imposed negative rates

What would you do if your bank imposed negative interest rates on your personal deposits? asks Davy AM fund manager Mark Seavers.

Would you reach for the ATM card, head to the nearest cash point, max-out your daily withdrawal limit and then look for a cunning place to stash your cash? True, banks have yet to impose negative rates on retail depositors, presumably only because none wants to be the first to make that headline.  However, if you are a corporate entity, you may be dealing with the upside down world of negative interest rates already. The CEO of German insurance company Munich Re, Nikolaus von Bomhard, recently revealed that, not only was the company buying gold to avoid negative rates, it was hoarding...