The Reserve Bank has spelled out what it will do when rates inevitably approach zero.
Last night, in a much anticipated speech broadcast live on the Reserve Bank’s website, Governor Phil Lowe laid out in very clear terms the circumstances in which the bank would resort to quantitative easing and the way in which it would implement it. Here's what you need to know.
Quantitative easing is simply a change in the way it eases monetary policy when the official interest rate approaches zero.
Usually it does it by cutting the so-called cash rate, which is the rate banks pay each other for money deposited overnight.
Eight years ago the cash rate was 4.5%. Three years ago it was 1.5%. After the most recent three cuts in June, July and October, it is just 0.75%
The recipe for KFC chicken used to be a closely guarded secret. However, a former KFC employee recently leaked the alleged "11 secret herbs and spices" to the world - and after extensive testing, the recipe checks out.
This video shows you how to make bona fide KFC chicken at home. (The good news is, you probably have most of the ingredients in your cupboard already.)
USB is still one of the most important pieces of technology in the 21st century. They charge your devices, they carry around your folders filled with files you hardly use or look at, and they help to transfer things between devices. But a new USB type is on its way and its going to change everything up. Here's what the USB4 is all about.