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lower but to put that into context it was at zero in europe this time last year. and in the world s largest economy the us, the cost of borrowing is at 5% to 5.25%. but critics point out rising interest rates is a blunt tool that comes with its own set of dangers that can pose further risks to the economy. so what else can be done? well, central bankers are getting together today in portugal to chew over this challenge. joining me now isjennifer mckeown chief global economist at capital economics. good morning to you, jennifer. so it s a lovely location, portugal, you got christine lagarde there, andrew bailey, jerome powell among others, what do you think they will chew on? of course they re all
doing damage to the economy and limiting demand somewhat, that helps to stem inflationary pressure. so, yes, it might be quite painful, but hopefully there can be some redistribution to mean that it doesn t cause too much hardship and it may be that recession which ultimately serves to bring inflation down. jennifer, thank you bring inflation down. jennifer, thank you so bring inflation down. jennifer, thank you so much. bring inflation down. jennifer, thank you so much. good - bring inflation down. jennifer, thank you so much. good to l bring inflation down. jennifer, l thank you so much. good to get your take on all of that and, of course, jennifer mckeon there from capital economics. we will be keeping a close eye on that gathering in portugal of the world s top central bankers and we ll let you know how the day goes for them. more from the us now as the electric truck maker lordstown motors has filed for bankruptcy. the ev start up has put itself up for sale and is suing the