“Perhaps a complex offer by the central bank to buy and sell at stated prices gilt-edged bonds of all maturities, in place of the single bank rate for short-term bills, is the most important practical improvement which can be made in the technique of monetary management”
How can rates be normalised considering JP debt to GDP ratio is over 260%, prolonged normalised interest rates would result in interest payments ballooning to over 50% of government revenue over time. Is there a way out?
Nice blog! thanks
How can rates be normalised considering JP debt to GDP ratio is over 260%, prolonged normalised interest rates would result in interest payments ballooning to over 50% of government revenue over time. Is there a way out?