Negative interest

[Walt Zingmatilder]

Businesses apparently will have to pay rent for storing and moving their money............Brexit anyone?

[Sebastian Toe]

Businesses apparently will have to pay rent for storing and moving their money............Brexit anyone?

Why Brexshit?

[Gonnagle]

Dear Septic,

http://www.bbc.co.uk/news/business-36889828

But Bank governor Mark Carney has said it is likely "some monetary policy easing" will be required to boost the UK economy in response to the Brexit vote.

It's all Jack Knave's fault.

Gonnagle.

[jeremyp]

Businesses apparently will have to pay rent for storing and moving their money............Brexit anyone?

Don't worry, once the inflation caused by the tanking pound kicks in, the BofE will need to raise interest rates a bit.

Also, given the current outlook, it will be a lucky business that has any money to store and move about.

[Hope]

Don't worry, once the inflation caused by the tanking pound kicks in, the BofE will need to raise interest rates a bit.

Also, given the current outlook, it will be a lucky business that has any money to store and move about.

Sorry, jeremy, but since charities often have business accounts, it's also going to be the very people who the marginalised and disenfranchised rely on.  For instance, the homelessness chariity attached to our church as a £30K reserve account that covers the 192 bonds that are currently out for the individuals and families who the charity are working with.  If the banks decide, en masse, to go down the same route as RBS and Nat West, that £30K pot could be being eroded by the payment of interest to the relevant bank.

[jeremyp]

Sorry, jeremy, but since charities often have business accounts, it's also going to be the very people who the marginalised and disenfranchised rely on.  For instance, the homelessness chariity attached to our church as a £30K reserve account that covers the 192 bonds that are currently out for the individuals and families who the charity are working with.  If the banks decide, en masse, to go down the same route as RBS and Nat West, that £30K pot could be being eroded by the payment of interest to the relevant bank.

Sorry, didn't realise people were going to take my post seriously.

Anyway, any account where the interest rate is lower than the rate of inflation (as, for example my "savings" account) is already having its value eroded and probably always has done. The only thing unusual about the current situation is that the actual number is going down as well as the value.

[Jack Knave]

Businesses apparently will have to pay rent for storing and moving their money............Brexit anyone?

This just shows how thick you are. Negative interest rates have nothing to do with Brexit and everything to do with bailing out the banks. Which by the way is what the Greek bailout is all about so the EU actions actual supports negative interest rates; help by the stupid actions of the ECB.

[Jack Knave]

The upside to negative interest rates, once they become the norm, is that the banks will give you money to take out a loan, and then you can pay off that loan with another loan and get some more money for free - it's all jolly sane really!!!