At last! A firm proposal.
Return control of all interest rates (including interbank lending rates) to central Banks.
Eh? Apologies, but I\’m not aware that there was a time when central banks controlled all interest rates….not even interbank lending rates.
Control of the base rate, yes, control of certain consumer credit rates (caps usually) at certain times and places, but control of all interest rates?
Again, if we\’ve got people making these sorts of suggestions it would be interesting if they actually understood the economy they\’re attempting to reform, wouldn\’t it?