Negative Interest Rates

[reggie]

Just saw this ...http://www.bbc.co.uk/news/world-europe-27723199 about negative interest rates in europe.

Does that mean that you get paid for not borrowing money? Or that you get paid for borrowing money...either way it's a bit weird is it not?

[grabot]

It means that the European central bank will start charging other banks to hold deposits. The idea is to encourage the banks to lend to business instead.