Interest rates that are far higher than the world has become accustomed to for much of the 21st century
After years of keeping inflation below their 2% targets, the guardians of monetary stability have been caught napping at the wheel. The current G-7 average of 7.2% is way beyond the two-decade mean of 1.7%, the one-decade level of 1.6% or the 2002-2012 average of 1.8%.
Mark Gilbert Bloomberg 29 september 2022
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