CURRENT AFFAIRS

Detailed explanation-1: -Denmark’s third-largest, Jyske Bank, launched the world’s first negative interest rate mortgage – handing out loans to homeowners where the charge is minus 0.5% a year.

Detailed explanation-2: -In 2012, Denmark became the first country in the world to impose negative rates, a trend since adopted by other countries to combat both weak inflation rates and changing savings patterns by consumers and businesses.

Detailed explanation-3: -Denmark’s third-largest bank, Jyske Bank, has launched the world’s first negative interest rate home loan, where the charge is -0.5% a year.

Detailed explanation-4: -Japan adopted negative interest rates in 2016 in an effort to combat decades of deflation by encouraging borrowing and spending.

Detailed explanation-5: -As a countermeasure, most Danish lenders introduced negative interest rates on clients’ large deposits in 2019, a trend that is now reversing. Denmark’s current account rate, which is the benchmark rate, and the certificate of deposit rate were each raised by 75 basis points to 0.65% from -0.1%.