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Sweden’s central bank, the first to apply negative rates on deposits, moves key rate back up to 0% from -0.25%. Subzero rates have pushed more money into equities and bonds, with holdings in mutual funds reaching all-time highs since rates went negative.
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“All central banks watch each other,” said Laurence Boone, chief economist at the Organization for Economic Cooperation and Development. “I don’t think negative rates have ever been seen as there to stay forever.”
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