In recent years, the Central Bank of Japan, Switzerland, Denmark and Sweden have opted to a negative interest rate to stimulate the economic growth

Negetive Interest rates is a monetary mechanism employed by the central bank to counter recession and to promote growth. The central bank set target of negetive value for nominal interest rate.
Negetive Interest rates was adopted in the early 19th century. It can be also known as tax on holding money. Negetive Interest rates discourages savings and promote investment in the country.

In recent years, the Central Bank and monetary authority of Japan, Denmark, Switzerland and Sweden adopted negative interest rate to stimulate and enhance the economic growth.Negetive Interest rates allows bank to lend more money and individual to invest more in the economy.
The Neoclassical school of thought emphasised the importance of central bank in promoting economic development and stability through interest rates adjustments.According to Neoclassical economic theory, investment is determined by rate of interest and the economic theory gave importance to long term growth rather than short term policies.Thus negetive interest rates discourages savings, promotes investment and productivity in the economy and thereby slove the problems of recession.