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My Bottom Line: Rachel Lomax, economist

21 September 2012 Last updated at 17:13 BST

Rachel Lomax is the former deputy governor of the Bank of England and non-executive director of several companies including HSBC and BAA.

Rachel says central banks are fighting the recession with ultra-low interest rates - and this is the best option we have got right now, at a time when governments are finding it hard to use taxes or government spending to help the recovery.

Low interest rates are always good for debtors, she says, but at the end of the day it is savers who are going to pay. Is this going to prove good enough? Only time will tell.

Rachel appeared on The Bottom Line which is broadcast on BBC Radio 4 and BBC World Service. Listen again via the download or watch it on the BBC News Channel.

Find more business wisdom from other chief executives on the My Bottom Line website.