Sections
Magazine
Latest Issue

What is the future of liberalism? Timothy Garton Ash outlines the threats to liberal democracy and how it can renew itself in a post-Trump age. Lionel Barber presents an authoritative institutional portrait of the Treasury and Cal Flyn makes the case for a different kind of climate writing.

Read Now Or Checkout the archive
Previous
December 2020
November 2020
October 2020
August/September 2020
Events
Next Event

Watch: Homes for all—what new social and affordable housing can do for Britain

Previous
Watch: The 2020 Think Tank Awards Ceremony
Watch: What next for pensions? Why the 2020s are the crunch decade
Build, build, build: how can we overcome the barriers to affordable and social housing
To the archive
Podcast
Latest Episode

The Prospect Interview #164: Post-human landscapes, with Cal Flyn

Previous
The Prospect Interview #163: Can Joe Biden save America?
The Prospect Interview #162: George Saunders’s masterclass in the Russian short story
The Prospect Interview #161: Women, slavery and resistance
To the archive
Magazine Opinions Banks inequality interest rates monetary policy

The stuck economy

With interest rates at zero, what else can central banks do?

By Kate Barker  
June 16, 2016
July 2016

Governor of the Bank of England Mark Carney. Central Banks "are not quite out of bullets" argues Kate Barker ©DYLAN MARTINEZ/WPA Rota/Press Association Images

In the decade before the financial crisis, world economic growth was 4.2 per cent. In the aftermath it declined to 3.2 per cent and a recent International Monetary Fund analysis predicted that it will stay stuck at this lower pace. In…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with our newsletter, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

Kate Barker

Kate Barker is a former member of the Bank of England’s Monetary Policy Committee

More stories by Kate Barker

More From Prospect