Since the Global Financial Crisis (GFC) in 2008, central bankers worldwide have pursued expansionary monetary settings to buoy tepid economic growth by cutting policy rates and buying government bonds. As a result, low interest rates have been a fact of life in large developed economies for the past decade – and counting.

Across the developed world, historically low interest rates are the new normal – not just temporary. Our latest Whitepaper points to five structural reasons driving this change. Although low rates are highly advantageous for those with an ability to buy assets, they come with some strong downsides.