I just like to point a comment made by one of the highest paid central banking teams around -
"At today's meeting, the Board noted that interest rates for borrowers have declined to be close to their medium-term average, as a result of the actions at the Board's previous two meetings"
Yes rates are low, but one must consider the quamtum of debt that goes with these low rates. A high quamtum and low rates probably makes for medium term averages.
