Ten years after central banks unleashed a period of record low interest rates, the central banks’ central bank is warning that this may not have been the smartest move.
In the latest quarterly review from the Bank of International Settlements, the Basel-based organization that oversees the world’s central banks warned that decades of falling interest rates have led to a sharp increase in the number of “zombie” firms, rising to an all time high since the 1980s, threatening economic growth and preventing interest rates from rising.
