Until government’s seek to balance their budgets, low or negative rates are here to stay. An increase in rates would quickly bankrupt most nations or lead to heavy taxation and/or confiscation of private assets. All of these nations need to curtail government spending and control but, politicians being politicians, I doubt this will happen. They will indulge themselves at the expense of the masses.
Lots of folks say that and imho it's a dumb thing to say.
Lots and lots of governments are out there borrowing more and more money --they're out renting all the other-people's-money in sight. What that should mean is that all the low rent money should be all snatched up and we should be left w/ just expensive money. iow, gov't borrowing should drive rates up. They're not. What makes more sense to me is that lenders are out loaning money to any gov't in sight making better and better offers for lower cost money --and governments are willing to pick up a good deal when they see it. The result should be low rates w/ more gov't borrowing --this is what we got.
I say the low rates are causing the borrowing, not the other way around.