Howard Davies: Financial Markets Remain on Life Support

The transcript discusses the concept of market distortions, particularly in relation to central bank actions and economic indicators like US job numbers and Brexit. It highlights the softening economic prospects in Europe and the UK, and the implications for interest rates, suggesting they may remain low for an extended period. The discussion also covers the challenges in identifying an 'original state' of the markets due to prolonged central bank interventions, and potential distortions from selective bond buying by the ECB. Overall, the financial markets are described as being on life support even years after the crisis.

What does the speaker suggest about the future of interest rates?

What does the speaker mean by 'the financial markets remain on life support'?