Are low interest rates increasing inequality? No, says the world's central bank
- Written by John Hawkins, Senior Lecturer, Canberra School of Politics, Economics and Society and NATSEM, University of Canberra
Phillip Lowe, the governor of the Reserve Bank of Australia, gets many letters and emails from retirees complaining they can’t live on the interest from their savings when interest rates are so low.
“I read these letters, many of them are very heartfelt and I feel very bad for the people who are in this situation,” he told the...
Read more: Are low interest rates increasing inequality? No, says the world's central bank
