Central banks overseeing three fifths of the world’s economy are practically giving away money with benchmark rates of 1 percent or less. Borrowing is only getting cheaper: Economists predict the Bank of England will cut its rate for the first time in seven years on Thursday. Market-implied rates in 20 of 33 countries tracked by Bloomberg, representing more than 40 percent of world GDP, show traders expect even lower borrowing costs in six months.
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