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Record low interest rates, the driving down of bond yields, and quantitative easing deployed in response to the 2008 financial crisis still distort the behaviours of financial markets, financial institutions and households. It will be some time, if ever, before market conditions are ‘normalised’ – before interest rates and bond yields return to typical pre-crisis levels. The Financial Inclusion Centre is an independent, not-for-profit policy and research group. Its mission is to promote a financial system and financial markets that work for society.