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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 increasing the cost of borrowering and in some places like the uk, so far it s having little effect. little effect. yeah, you re ri . ht. little effect. yeah, you re right. beautiful little effect. yeah, you re right. beautiful location, | little effect. yeah, you rel rig ....
Boost manufacturing, he s talked about expanding high speed internet access for as many as possible. i mean, he really is pushing the fact that people will be better off as a reason to keep him in office he is. but reason to keep him in office ye: is. but again he s reason to keep him in office i2 is. but again he s kind of banking on things falling in place. maybe he and his team are very confident that s going to ham. inflation is very much still not defeated. they re making good progress and making better progress than we re seeing elsewhere but it s very much far from defeated and still see another interest rate hike or two, and that point families may feel less well off than they currently do. especially if the economy is then tipped into recession. but he does have still big growth agendas and most of that is going to be backed by heavy spending. the question is and i m sure his team of researchers will be looking into this is going to be is more deficit spending and is more ....
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