Julian Jessop appears on BBC Newsnight
In the interview Julian argues that ultra low interest rates have their costs as well as their benefits. If you are in a position where interest rates are expected to remain near zero for the foreseeable future, that creates all sorts of distortions in the economy, mis-allocation of resources and so on. If you can get interest rates back to more normal levels over the next few years, and also have a bit of margin if you need to cut rates again for example if the Brexit negotiations don’t go well.
Watch the full interview here. Julian’s segment begins at 21:21
Further IEA Reading: Financial Stability without Central Banks