I'm not sure this article gets the definition of the zero lower bound right (though I'd love to be corrected if it does.) As I understood it, the ZLB only appli

I'm not sure this article gets the definition of the zero lower bound right (though I'd love to be corrected if it does.) As I understood it, the ZLB only applies to central bank lending rates to other banks, which if they become negative the other banks only have the incentive to hoard cash.