字幕表 動画を再生する 英語字幕をプリント interest rates are really like the price of money. It's the rate of interest you have to pay to borrow money from the bank. If you hold a mortgage, that's the price of the mortgage. A big part of the great recession was the collapse in house prices around the world, and so interest rates have been kept very flat and very low. Part of the reason is that if you were to start raising interest rates, then it's gonna have an impact on the price of borrowing, and it's gonna lower house prices. A rate of interest is also the return savers get from investing in a bank or in a particular share. But it really matters because interest rates essentially are the tool that's used to stabilize the economy, the responsibility for economic policy and stabilization. Trying to keep things on an even hell has been given to central banks, and I was one of the guys who used the set interest rates. Bank of England now has a difficult decision to make tomorrow on whether to cut interest rates, so we went into a period in September 2008 where we started to cut interest rates for around 5% to, ah, half a percent. I was flying across from the U S to the UK, and I looked up and there's a captain of the airplane is standing in front of me with one of these in his hand, very large bottle of champagne. And I said, Isn't aren't you supposed to be flying the plane? And he said they sent me back with this to thank you because what's happened is the mortgage rates on our loans have gone from 7% or so to 2% or so. And we know that you were the guy who was trying to cut rates. So no often the captain comes to your seat on hands, you a bottle of champagne.