In a surprise move, the Bank of Japan has introduced negative interest rates to counter the ongoing economic slump.

The rate of -0.1% will mean that the central bank will in fact charge money for holding deposits.

The central bank hopes the easing of monetary policy will drive up inflation and boost economic growth.

It's a policy that usually only affects interbank lending and is not handed down to the average banking client.

The decision came after the bank wrapped up its first meeting of the year on Friday.

(BBC)