Reserve Banks Have Destroyed the ‘Culture of Thrift’: Nigel Farage
British political leader Nigel Farage has warned that years of low interest rate lending has discouraged the younger generation from saving.
He told The Epoch Times it was “astonishing” central banks have failed to recognise that years of cheap lending—particularly during the COVID-19 era—would eventually lead to the current wave of inflation that has gripped developed countries around the world. In response, Reserve Bank chiefs have, in lockstep, raised interest rates to try and curb rising living costs.
The former Brexit Party leader, and a key architect behind Brexit, made the comments on Oct. 1 from Sydney, where conservatives had gathered for CPAC Australia—the Conservative Political Action Conference….