For many years after the financial crisis, economic performance was lacklustre across advanced economies. Now, the global recovery is firming and broadening. A key issue facing policymakers is ensuring that this nascent growth becomes sustainable. Dynamic investment that drives stronger productivity growth is crucial for that – and in turn for the eventual normalisation of monetary policy. Investment and productivity growth together can unleash a virtuous circle, so that strong growth becomes durable and self-sustaining and, ultimately, is no longer dependent on a sizeable monetary policy stimulus. The discussions we ... (full story)