The Reserve Bank of Australia (RBA) has exposed that in the very near future it could be forced into “unconventional” methods of trying to claim back the Australian economy and get it back on track.

It has been suggested by the RBA that Australians, for the first time in history, could soon be paid to borrow money from the banks in order to stimulate and recover the economy.

RBA Governor, Phillip Lowe, explained to the governments standing economic committee on Friday, that the bank was now considering “unconventional” approaches in order to get the country moving forward in a positive economy.

“It’s possible that we end up at the zero lower bound. I think it’s unlikely, but it is possible. We are prepared to do unconventional things if the circumstances warranted it.” Lowe stated.

Among this are other methods that have been put forward as an effort to reclaim the economy, and this includes slashing the official interest rate, which is currently below 1 percent, to below zero.

Lowe went on to further explain,

“When we look overseas, we see some central banks have very low interest rates and some countries have negative interest rates. In Switzerland right now the interest rate is -0.75 percent, in the Euro area its -0.40 percent and in Japan it’s -0.10 percent. So some central banks have gone negative. That’s one possibility.”

However, if this was to happen what would it mean for Australians?

Instead, like it has previously occurred in the past, when we borrow money from the bank, the bank pays interest on that deposit. As the interest rates get lower, individuals receive less interest on their deposits and pay less on what they borrow, meaning that mortgages and other loans essentially become cheaper.

When the interest rates enter the territory of negative, this mean that money deposited with a bank can be charged interest instead of the individual earning it. Or banks can pay individuals to borrow money.

This means, as an example, that if the interest rate was cut to -2 percent an Australian with a loan form the bank of $100 would be paid $2 for every year they had the loan. On the flip side of this however, if an Australian left $100 in a bank account and didn’t touch it they would be charged $2 at the end of the year for holding their money in the bank.

It has been well tested that countries that have negative interest rates ultimately weakens the countries fiat currency.

How you can safeguard your finances

In our professional opinion along with many others, currently holding all of your finances in fiat is proving to be risky, and with the current state of many fiat currencies around the world losing value by the day, safer options need to be taken into serious consideration.

Cryptocurrencies are a safe and stable way to hold your finances and accumulate them at the same time. However, be careful, in order to be in a safe crypto space you need to mine Cryptocurrencies not buy outright. By mining Cryptocurrencies this risk is eliminated and you have the ability to accumulate day to day.

Anthony Pompliano, known Bitcoin Bull and founder of Morgan Creek Digital, has explained in a recent interview with CNBC’s Squawk Box the importance of investing in Bitcoin, more specifically Bitcoin mining,

“We’re now entering a position where it’s actually irresponsible for institutions to not have exposure to this asset, and the reason is their job is to find assets that actually can provide non-correlation to the rest of the markets, especially in times of global instability.”

NGS Crypto is Australia’s leading Blockchain Mining Specialists, and are the frontrunners when it comes to cryptocurrency mining.

The system and service that is in place is risk-free and allows you to mine Cryptocurrencies, accumulate on a daily basis and 100 percent of your initial investment is paid directly back to you at the end of the 36-month legally binding agreement.

For further information on the service we provide contact us today to talk to one of our trusted representatives.

Stay Connected

More Updates


Congratulations Adam & Sam

June 28, 2022 NGS Crypto’s Own Adam Lane Pops The Question…and she said yes! A memorable night at the footy for Adam & Sammi It’s


US and Europe Ban Russia From SWIFT

February 28. 2022 US And Europe Move Towards Banning Russia From SWIFT As tensions horrifically rise between Russia and Ukraine NATO countries are starting to