Interest rates, drivers and outlook

Gonzalo Caprirolo

Izid: 2019 | Izid: 68 | Številka: 9 | Stran(i): 20-27

bank profitability Low interest environment macroeconomic policy term premium

A low interest rate environment underpinned by low natural interest rate is foreseeable over the medium term. This is driven in large part by trends in population ageing and low productivity growth in advanced countries. In this context the term premium is likely to be also compressed. Such environment is already demanding important changes in the implementation of monetary policy and adjustments to fiscal policy are required. ..

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