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R star and the global economy

The End of the Ultra-Low Rates Era

r* in the Post-Pandemic Economy

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r* in the Post-Pandemic Economy

Get the key takeaways from our new analysis showing how equilibrium real interest rates will rise in the coming decade as new structural forces reshape the global economy and markets 

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Several of the structural forces which have weighed on equilibrium interest rates over the past two decades are easing, and there are good reasons to think that equilibrium rates have risen and will rise further. These add up to a significant increase in equilibrium interest rates, in both real and nominal terms, relative to the rock bottom levels which prevailed during the 2010s.
Jennifer McKeown
Jennifer McKeown
Chief Global Economist

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