Not the world's first at all. https://tradingeconomics.com/switzerland/interest-rate Switzerland has been negative for years. Negative interest rates mean only 1 thing. The central bank is 100% confident that they are on the brink of deflationary spiral; much like Greece or Japan. This is all connected: https://news.ycombinator.com/item?id=20615403 https://news.ycombinator.com/item?id=20654624 https://tradingeconomic…
> The central bank is 100% confident that they are on the brink of deflationary spiral; much like Greece or Japan. Is this a good thing for people who hold cash assets? Meaning, would you be able to buy say a $40,000 car for $20,000 in case this happens?
The problem is that when people do that, it means people arent spending money resulting in more deflation.