What could be more terrifying than a return to the 15 per cent interest rates with which homebuyers had to contend in the early 1990s? Possibly the vision presented last week in UBS’s Global Economic Outlook: interest rates at minus 5 per cent. It would take us to an unknown world where savers who deposited £100 in a bank would return a year later to find only £95 left.
Already a subscriber? Log in
Black Friday sale
Subscribe today and get 10 weeks of The Spectator Australia for just $1
- Unlimited access to spectator.com.au and app
- The weekly edition on the Spectator Australia app
- Spectator podcasts and newsletters
- Full access to spectator.co.uk
Or
Unlock this article
You might disagree with half of it, but you’ll enjoy reading all of it. Try your first month for free, then just $2 a week for the remainder of your first year.
Comments
Black Friday sale
Subscribe today and get 10 weeks of The Spectator Australia for just $1
SUBSCRIBEAlready a subscriber? Log in