The slide shows a range of estimates of the natural rate for the euro area. Slide 3. Estimates of the natural rate of interest in the euro area However, the estimates of the natural rate of interest are subject to a lot of uncertainty.
4 The reasons for the decline of the natural rate of interest rate are linked to changes in the savinginvestment balance in the advanced economies, both in Europe and globally. An increase in the economy’s propensity for savings, or likewise a decline in its demand for investment, would produce a lower natural rate of interest.