Negative rates explained: how money for (less than) nothing is helping out the budget

Written by The Conversation

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A week ahead of Thursday’s budget update, it finally happened.

Instead of the government paying to borrow in a way that would add to the burden on the budget (as has happened since time immemorial) it actually got paid to borrow.

Think about that. Investors with millions of dollars to lend went to the Australian treasury...

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