Anthony Rayner: Are interest rates back to normal?

What's normal? History suggests there is no such thing as a permanent ‘normal' - though there are often extended periods where dominant trends remain broadly the same. And then there are times where there is a material break from these trends. Economic and financial market history is no exception, though this does not stop talk about whether or when interest rates will ‘return to normal'. Take a look at the chart below, which plots the official bank rates in the US and the UK, along with their averages, over the last 60 years. The levels of rates give an insight into economic history, al...