Against this backdrop, I would put in perspective the current concerns of excessive regulation. 4. Conclusions I would like to conclude with a reminder of the potential longer term challenges regarding productivity growth as well as the legacy of the recent crises that have contributed to the currently low long-term real interest rates.
Hence I am happy to have that forecast on the record, even though I didn’t actually intend to make it. Perhaps that says that chance plays as big a role in forecasting as it seems to in many other areas of life.