How low interest rates are crippling capitalism

Posted by | July 28, 2016 | News

How low interest rates are crippling capitalism
• The Swiss problem is going global
• Yesterday’s close: FTSE 100 up 0.5% to 6,728… Gold down 1.2% to $1,316.06/oz… £/$ – 1.32085
From John Stepek, across the river from the City
Dear Reader,John Stepek

Since the Brexit vote, all eyes have been on sterling.

The pound has fallen. But not quite hard enough or heart-stoppingly enough for the Remain catastrophists, who think that it can surely only be downhill from here.

But take a look around. The Bank of England must be the envy of the world’s central bankers. Everyone wants a weaker currency.

And I suspect that this particular race-to-the-bottom is about to pick up sharply…

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