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BOE’s Vlieghe Says High Rates May Not Return in His Lifetime

Gertjan Vlieghe

Gertjan Vlieghe

Photographer: Luke MacGregor/Bloomberg

Interest rates may stay at historically low levels for decades, according to Bank of England policy maker Gertjan Vlieghe.

Asked on a webinar Monday how long it could be until borrowing costs reach the kind of levels seen as normal before the global financial crisis, Vlieghe replied “maybe not in my lifetime.” He added that rates during the 1970s and 1980s were unusually high, so lower levels would better represent the average.