Japan allowed real interest rates to rise above nominal rates during the 1990s.

Name: Japan allowed real interest rates to rise above nominal rates during the 1990s.
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During the 1990s, Japan experienced a period of deflation, which caused nominal interest rates to fall below zero. In order to stimulate economic growth, the Bank of Japan allowed real interest rates to rise above nominal rates by keeping short-term interest rates near zero while allowing long-term interest rates to rise.

Japan Allowed Real Interest Rates to Rise Above Nominal Rates