"They have almost nowhere to go but up" has been being said by people for many years now when it comes to interest rates. It's a leading statement that somehow

"They have almost nowhere to go but up" has been being said by people for many years now when it comes to interest rates. It's a leading statement that somehow implies that rates are destined to go up because they are so low. This isn't true. They have a few places they could go. They could go up. They could go down (ZIRP is a thing.) Or they could do what they've been stubbornly doing for a long time now, wobble around basically within the same range.