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The RBA is now considering the drastic measure of negative interest rates - meaning you could be paid to borrow money from the bank
Accordingly, negative interest rates are intended to encourage spending even more than low positive interest rates. That because customers are charged money on their savings and paid to borrow instead of the reverse. In turn, a country’s currency is meant to be weakened by negative rates, boosting exports which should help the economy along even more. However, that’s all in theory. In practice, negative interest rates have a chequered history. READ MORE: There’s a big problem with the last tool in the arsenal of the world’s central banks As of 2016, this has been the effect of negative interest in the ... (full story)
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