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When the cash rate hits 0.25% the governor will pause for breath. After that he will buy state and federal government bonds, pushing longer term interest rates down towards zero. Shutterstock

Now we know. The Reserve Bank has spelled out what it will do when rates approach zero

In a speech broadcast live on the Reserve Bank website, the governor explained how quantitative easing would work. He won't try it until the cash rate hits 0.25%.
Firing line. Corbyn’s economic plans face scrutiny. REUTERS/Peter Nicholls

How to save Corbynomics from itself

There are some important parts of Corbynomics that can offer a clear, distinctive and viable economic programme with which to confront the government.

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