Interest rates are not likely to rise soon 

Adam S. Posen (PIIE)

Addressing the Treasury Committee of the UK Parliament, Adam S. Posen predicted that rising savings, declining productivity growth, and reduced appetite for risk would keep interest rates low. Provided the Bank of England can stop financing government debt when it needs to, Britain’s borrowing will remain sustainable. Posen cautioned that it will be up to lawmakers to prevent dangerous political fragmentation—in the United States as well as the United Kingdom.

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