Carney: green finance could help reverse long-run rate decline

Bank of England governor Mark Carney
BoE governor Mark Carney

As well as slowing the advance of climate change, more effort in establishing "green finance" could support financial and macroeconomic stability, according to Bank of England (BoE) governor Mark Carney.

Delivering the Arthur Burns memorial lecture in Berlin on September 22, Carney said the theory that capital should flow from advanced to emerging economies, where returns are highest, has broken down. This has contributed to the decline in long-run, or equilibrium, interest rates in advanced

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