As always, we will give you an overview of monetary and macroeconomic trends for the period since the previous Report and set out our expectations for the period ahead.
An alternative explanation proffered by Rogoff (amongst others) is that our economies are experiencing a prolonged period of deleveraging (in the public and private sectors), aimed at winding back excessive debt accumulation from the period preceding the GFC. In this scenario, national saving would be higher and growth in investment lower (or at least creditfinanced investment) for many years. What does the evidence suggest?