Bank of Japan shocks markets by adopting negative interest rates

The central bank has imposed a 0.1% fee on deposits in an attempt to force more borrowing as way out of the deflationary spiral

Japan's central bank has made a shock decision to adopt negative interest rates, in an attempt to protect the flagging economy from market volatility and fears over the global economy.

In a 5-4 vote, the bank's board imposed a 0.1% fee on deposits left with the Bank of Japan (BoJ) - in effect a negative interest rate.