. Ten years after the Global Financial Crisis, GDP remains below its pre-crisis trend in many economies and interest rates … continue to be very low. This raises the question of whether low GDP growth and low interest rates are a temporary phenomenon … or are due to a decline in long-run growth prospects (potential output growth) and equilibrium real interest rates …

. Ten years after the Global Financial Crisis, GDP remains below its pre-crisis trend in many economies and interest rates … continue to be very low. This raises the question of whether low GDP growth and low interest rates are a temporary phenomenon … or are due to a decline in long-run growth prospects (potential output growth) and equilibrium real interest rates …

after the reduction of key interest rates in April this year. All in all, the upswing will gain momentum and will continue … the stance of monetary policy. The conclusion is that interest rates will have to be raised if the reference path for … money shall not be exceeded and if the target for inflation shall be achieved. Furthermore, the differences in growth rates …