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Jakobsen: Interest rates have peaked
Global interest rates have peaked, according to Saxo Bank's Chief Investment Officer Steen Jakobsen. "We've seen the high", he says, "and we'll probably even see a new low in terms of interest rates next year based on very low, almost recession like growth".
Jakobsen maintains that interest rates are not the solution to creating growth. They can be supportive but if they really were the answer, the global financial crisis would have been solved some years ago. He argues that the focus has to be on nurturing the small and medium sized enterprises if we're going to see a real change in global fortunes.
01:51 minutes
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