we have had low interest rates but higher than most of the Western world this decade simply because our economic growth has been so strong (it's been a good problem to have)...we weathered Asian currency crisis beautifully, US recession, 9/11, Japan stagnation all of which required US and Japan central bank to dramatically cut rates to revive their economies. The resource boom is a recent phenomenon but don't let that fact stop the revisionists, apparently the past 11 years has been a cakewalk.
No boom / bust, just extended strong growth.
Current conditions are as close to a Goldilocks economy as you'll get.....3% inflation full employment and lowish interest rates....
Seems that anyone can pull off this feat even though it's never been done before, we will see soon enough how easy running Treasury is. Good luck Kevin for all our sakes.
