That’s a lot of income, especially when it would arrive more or less for free – it would come from countries removing structural impediments to growth. 4  BIS central bankers’ speeches  Such impediments include trade barriers, labour market rigidities and other factors that make economies inefficient.
4. Will there be any adjustment in loans, and if so, how large an adjustment? 5. Will there be any cut in aggregate expenditure, as a result either of an increase in loan rates (if they increase) or a reduction in loan supply (if there is a reduction)? If so, what is the elasticity of response?