In The Balance

Are central banks running out of options to boost sluggish economic growth? Five of them have introduced negative rates, violating one of the most fundamental norms in business and economics. And other ideas, once thought utterly shocking, are now being openly considered. Martin Wolf, chief economic commentator at the Financial Times newspaper, talks with economists and central bankers, past and present, to examine how such policies might affect the way people spend and save in the future. In an interview conducted in June he discusses “helicopter money” with Bank of Japan governor Haruhiko Kuroda, and asks former Bank of England governor Mervyn King why many economies are still struggling eight years on from the global financial crisis Plus, how much more tinkering can we expect from these experts and how much further might interest rates fall? (Photo: Coins being dropped into a jar. Credit: Thinkstock)