In sum, T-Bill rates have been pushed down to a negative level because they gather investor demand for a number of technical reasons, while yen short-term interest rates have already been as low as a near-zero level across the board. In this sense, negative interest rates represent the very effect of powerful monetary easing under the QQE.
In addition, and coincidentally,  in  February  this  year,  the  Bank,  in  collaboration with the International Monetary Fund and other development partners, concluded a workshop in Kasane on “Fostering Diversification to Escape the Middle-income Trap” for Botswana.