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As we now look to be clearly entering a period of high(er) sustained #interestrates, the Q. must be what will be the consequences?

The FT offers some possible answers:

Consumers (effective) demand will be constrained by servicing #mortgages & household #debt;

#productivity may rise as under-performing firms are bankrupted (unable to service their loans);

states may find fiscal manoeuvrability further constrained due to servicing #publicdebt;

& the #greentranstion may be harder to fund.