The dead hand of debt

MARK Carney, governor of the Bank of England, grabbed the headlines this week with a speech that suggested British interest rates were unlikely to rise any time soon. (A bit of a victory for Andy Haldane, the Bank's chief economist, who has even suggested the next move in rates might be down.) But it is also worth reading a very thoughtful speech from a newish monetary policy committee member, Gertjan Vlieghe (formerly at the Brevan Howard hedge fund group). 

Mr Vlieghe examines the case...

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