在负利率环境下,经济的下行趋势并没有得到改变,我们很难能够证明负利率能够带来正面效果。在欧洲以及日本央行纷纷开始执行“负利率”政策后,市场越来越关心的问题是,负利率是否达到了预期中的效果?不幸的是,在负利率环境下,经济的下行趋势并没有得到改变,我们很难能够证明负利率能够带来正面效果。同时,从商业银行的行为来看,我们发现了两个趋势:第一,商业银行不愿意向企业借贷,这 In a negative interest rate environment, the downward trend in the economy has not changed. It is hard to prove that negative interest rates can have a positive impact. After Europe and Japan’s central banks started to implement the “negative interest rate” policy, the market is increasingly concerned about whether the negative interest rate has achieved the expected result. Unfortunately, the downward trend of the economy has not been obtained under the negative interest rate environment Change, we can hardly prove that negative interest rates can bring positive results. Meanwhile, judging from the behavior of commercial banks, we find two trends: first, commercial banks are unwilling to borrow from enterprises;