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LONDON (Reuters) - Bank of England policymaker Gertjan Vlieghe said on Monday that he did not expect British interest rates to return to levels common before the 2008 financial crisis during his lifetime, due partly to the effect of an ageing population.
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Vlieghe, 49, said longer life expectancies and more time spent in retirement had boosted demand for safe retirement assets, pushing down long-run interest rates across developed economies including Britain.
Asked by students at Durham University when interest rates might return to the level of 4% to 5% common before the financial crisis, Vlieghe replied: “Maybe not in my lifetime.”
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