Global debt has more than doubled in the last 15 years; and according to the International Monetary Fund (IMF), it’s the highest it’s ever been.
In response to Mark Carney’s remarks at a news conference in Nottingham, in which he said that the Bank would be prepared to tolerate a rise in inflation above 2%, Executive Director of Positive Money, Fran Boait said:
"Theresa May knows monetary policy isn’t working. QE is increasing inequality, and low interest rates aren’t the solution", writes Fran Boait in the Guardian, 12th October 2016.
Positive Money is putting monetary policy on the political agenda. This was in evidence at the political party conferences this year, where we brought together all-star panels in packed-out rooms to talk about the need for a new form of monetary policy.
Exciting news! Prime Minister Theresa May said in her speech at the Conservative party conference that “change has got to come” on monetary policy.