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The UK economy is “riddled with zombie companies” that cannot withstand a rise in interest rates. Productivity is key.

John Weeden, comments:

Andy Haldane’s take on interest rates and productivity initially appears counter intuitive; a short term hike in interest rates would increase business failure by 10% due to the inability for businesses to service their debt. However, this immediate purge of zombie businesses could deliver a much-needed 2% increase in productivity. Is the reward worth the risk?

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