The central bank deposit rate is negative in the euro area, Switzerland 2/6  BIS central bankers' speeches  and Sweden, with the main Swedish policy rate also negative. Negative rates have been effective in lowering the whole spectrum of short-term rates, and also at longer maturities via expectations. In this perspective, it has been a good complement to quantitative easing (QE).
This  provided  the  supportive regulatory environment for mobile money services kick started partnerships between banks and non3  bank entities including telecommunication companies to set up subsidiaries to offer mobile money services and deliver innovative financial products and services. 5.