Sure, interest rates set by most major central banks have been at historical lows, between 0% and 2% for the last 10 years, since the last crisis. And it doesn’

Sure, interest rates set by most major central banks have been at historical lows, between 0% and 2% for the last 10 years, since the last crisis. And it doesn’t look like it’s possible to raise them much in the next few years - the economy has become accustomed to low rates and can’t take a rate hike. Nor will it be possible to lower them much (since they already close to zero) in case there is another downturn and the central banks need to stimulate. I don’t think we have ever seen such a long period of low rates before, so this is relatively uncharted waters. Inflation of consumer goods, which central banks have a mandate to track, is still relatively low, mostly thanks to low oil prices. But if you look at the prices of financial assets, you’ll see a lot of “inflation” hiding there thanks to money printing and low rates of the past 10 years.