We have the lowest interest rates in our history, and the Reserve Bank warns that we are in for a prolonged period of low rates.

But just how low can they go?

Well, there are trillions of dollars world-wide that is currently subject to NEGATIVE rates. That’s right, NEGATIVE interest rates.

The epicentre of negative rates is in Europe, and if you're in Europe, don’t expect to get any interest on your savings, but rather pay the bank to look after your money.

Grating as that may be, there is a silver lining for people who have borrowed money from the banks.

People in countries such as Denmark and Norway, are now receiving a “credit” against their mortgages, rather than a “debit” for interest.

That’s right, the bank is paying them for borrowing money.

I don’t know about you, but that certainly boggles my mind.