No interest at all
Though the headline might put you off, we must ask: why are interest rates dropping, who does it affect and where will it all end? Few people would be unaware that the Reserve Bank of Australia (RBA) dropped the official cash rate to 1.50% on August 2, the lowest rate since records have been kept. The supposed reason is to stimulate the economy (that is, to encourage spending and borrowing). It is theoretically OK to…