Vlieghe: Running out of room - revisiting the 3D perspective on low interest rates

From bankofengland.co.uk

Good afternoon. Today’s public lecture will be my last as an external member of the Monetary Policy Committee, since my term comes to an end shortly. It has been a privilege to have served on the MPC in the past six years. When I joined the Committee, someone made the comment that it might not be that exciting a period in history to do this job, because the expectation at the time was that the economy would just continue to recover gradually from the financial crisis, and that interest rates would only rise very slowly, over a number of years. As it turns out, we had Brexit, a US-China trade war, and a global ... (full story)