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Zero interest rates: the point of no return?

They have slowly become the new normal. But in 5,000 years of data they stand out as an aberration—and now the saving classes are out for revenge

By Paul Wallace   February 2017

Piercing words for Threadneedle Street: Theresa May warns the Bank not to ignore "bad side effects" of its monetary medicine ©High Level/Rex/Shutterstock

Interest rates have ebbed in Britain for a decade. In Japan the tide has been going out for a quarter of a century. In the United States, the official cost of borrowing inched up at the end of last year, but only to around two-thirds…

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