The deflationists must be in shock right now. The Sveriges Riksbank, the oldest central bank in the world, has rejected the very idea of sound money policy.
Today, Riksbank cut Sweden's deposit rate to -0.25%, effectively charging savers interest on deposited money.

Deposit Rate

The decision on the repo rate will apply with effect from Wednesday, 8 July. The deposit rate is at the same time cut to -0.25 per cent and the lending rate to 0.75 per cent.

Of course this will get instantly pushed through the entire banking system.

"It's a double whammy, or even a triple whammy," said Roger Josefsson at Danske Markets.