Australia has joined the world of negative interest rates with investors buying $550 million of federal government debt at minus 0.01 per cent.
Investors have bought more than $500 million of federal government debt with a negative interest rate.About a third of all government debt globally is currently being sold at negative rates but until today investors in Australian debt expected to get at least a small return on their investment.Advertisement
A separate tender for $500 million, to be repaid in July next year, attracted a low bid of 0.01 per cent.
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