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Economic analyst Dario Perkins highlights key changes in the economy since 2011. According to Perkins, the landscape has shifted from having 'oddles of spare capacity' and zero interest rates to limited spare capacity and private sector balance sheets in good shape.
He suggests there is ample room to cut rates now, unlike in 2011, when quantitative easing (QE) was deemed ineffective. However, Perkins warns of 'acute austerity fatigue' in the current economic climate, showing a significant change in fiscal dynamics.