I was reading about quantitative easing here, where the definition goes like this:
Quantitative easing is an unconventional monetary policy in which a central bank purchases government securities or other securities from the market in order to lower interest rates and increase the money supply.
How can QE lower interest rates?
The central bank decides the interest rates for government bonds, right?
So why would it need QE to lower interest rates? Can it not just cut them?