The implemented measures have also flattened the nominal term structure for safe as well as riskier fixed income securities at the longest maturities. And as a consequence of this, they have led to a drop in real rates across the entire spectrum of term contracts.
V.  The importance of other stakeholders  Nonetheless, it is clear that all stakeholders must also play their part in ensuring a swift and sustained recovery. The current environment where the real interest rate is below the real GDP growth rate is one that is, as I already intimated, very supportive and ripe for undertaking investment. But it is also not without risks.