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That is because lower rates boost activity largely via mortgage lending.
China is the most egregious example of debt being used to boost activity artificially.
National governments could embark on a spending spree to boost activity, but most would breach EU borrowing limits.
Further quantitative easing by the Bank of Japan in an attempt to boost activity looks highly likely this autumn.
That brings the 12-month average to 1.9%, just below the ECB's inflation target, which could let the central bank cut rates in a bid to boost activity.
The IMF then cuts the forecast, adding a warning to its 188 member countries that they need to do more, individually and collectively, to boost activity.
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Moreover, as the US Congressional Budget Office has shown, cutting corporation tax is the least effective way of boosting activity.
Resources invested in commission of crimes (or in deterring them) might otherwise have gone towards growth-boosting activity.
Mario Draghi may again have to lock horns with the Bundesbank president, Jens Weidmann, in order to force through measures aimed at boosting activity in Europe.
But isn't it true that action by Beijing has boosted activity in China, helping to push oil prices back above $40 a barrel?
It is considered that the new formed interface between NiMo3S4|Ni3S2 contributes significantly to the boosted activity.
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