Negative interest rates mean customers effectively pay a fee
for parking cash in banks, so Japanese citizens are beginning to hoard
yen, according to the Wall Street Journal, and they need somewhere to put it.
Sales of safes have doubled from the same period a year earlier at chain hardware store, Shimachu, according to the Journal. The chain has already sold out of one model worth $700. Others savers are considering more unconventional storage spaces.
“In response to negative interest rates, there are elderly
people who’re thinking of keeping their money under a mattress,” Mariko
Shimokawa, a Shimachu saleswoman told the Journal....MORE
Whatever you do, don't choose a safe you can pick with a magnet and a sock:
