1  Source: Own calculations based on Bloomberg.
BIS central bankers’ speeches  5  Graph 3 Advanced economies: Government debt with negative interest rates1 Trillions of dollars 8  Others Japan Germany  6  France  4  2  Apr-16  Mar-16  Feb-16  Jan-16  Dec-15  Nov-15  Oct-15  Sep-15  Aug-15  Jul-15  Jun-15  May-15  Apr-15  Mar-15  Feb-15  Jan-15  Dec-14  Nov-14  Oct-14  Sep-14  Aug-14  Jul-14  0  Includes Sweden, Denmark, Austria, Belgium, Czech Republic, Finland, Ireland, Italy, Netherlands and Spain.