All of which makes the current state of the global economy particularly worrying, because none of the usual explanations for a slowdown apply. Interest rates are not being jacked up. The pace of global growth has been abating for the past two years. There comes a point when cutting interest rates is like pushing on a piece of string, and that moment has arrived. Inflation is low, as are long-term interest rates despite high levels of government debt.

Source: The Guardian October 13, 2019 10:37 UTC