An activist outside the New York Stock Exchange holds a sign as part of a protest calling for higher taxes on the rich, on January 28. The low-rate environment since 2008 has widened wealth and income inequalities. Photo: EPA-EFE An activist outside the New York Stock Exchange holds a sign as part of a protest calling for higher taxes on the rich, on January 28. The low-rate environment since 2008 has widened wealth and income inequalities. Photo: EPA-EFE
An activist outside the New York Stock Exchange holds a sign as part of a protest calling for higher taxes on the rich, on January 28. The low-rate environment since 2008 has widened wealth and income inequalities. Photo: EPA-EFE
Andrew Sheng
Opinion

Opinion

Andrew Sheng

Central bankers can no longer deny the moral consequences of keeping interest rates low

  • Low rates encourage asset bubbles, discourage long-term investments, widen the wealth gap and promote excess consumption, hastening climate change. They ultimately exact a moral cost – on the poor and the planet

An activist outside the New York Stock Exchange holds a sign as part of a protest calling for higher taxes on the rich, on January 28. The low-rate environment since 2008 has widened wealth and income inequalities. Photo: EPA-EFE An activist outside the New York Stock Exchange holds a sign as part of a protest calling for higher taxes on the rich, on January 28. The low-rate environment since 2008 has widened wealth and income inequalities. Photo: EPA-EFE
An activist outside the New York Stock Exchange holds a sign as part of a protest calling for higher taxes on the rich, on January 28. The low-rate environment since 2008 has widened wealth and income inequalities. Photo: EPA-EFE
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