Rising interest rates could cause economy to 'unravel', Ken Rogoff warns

Former IMF chief economist

Laura Dew
clock • 1 min read

Former International Monetary Fund (IMF) chief economist Ken Rogoff has warned rising interest rates are the biggest threat to the world's economy.

According to the BBC, Rogoff, who was IMF chief economist from 2001 to 2003 and is now a Harvard professor of public policy and economics, warned people had got used to a world of ultra-low interest rates. He had previously thought that China posed the biggest threat to the world economy but now believes interest rates are a greater concern due to the increased levels of debt globally. Rates have been kept at historic lows in many developed economies since the financial crisis, with the UK interest rate held at 0.25% since last August. Speaking to the BBC World at One, Rogoff said:...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Why investors 'can't outrun' slow-moving demographics

Why investors 'can't outrun' slow-moving demographics

'Demographic change is a key megatrend'

Darius McDermott
clock 07 March 2024 • 5 min read
Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

British ISA, Office for Budget Responsibility, tax cuts

Valeria Martinez
clock 07 March 2024 • 4 min read
Spring Budget 24: Chancellor unveils long-term UK growth plan

Spring Budget 24: Chancellor unveils long-term UK growth plan

Includes British ISA launch and further NI cut

clock 06 March 2024 • 1 min read