AMID low inflation, much of the last decade was marked by an accommodative monetary policy stance globally – low interest rates and ample liquidity.
This, however, was upended when the Covid-19 pandemic hit and triggered the first wave of high inflation.
The post-pandemic world has not seen a return to pre-pandemic norms. Four years on, it seems safe to say that the era of low interest rates is over, going by the structural shifts that have taken place.
