This is not my area, but I do wonder about the long term trends on interest rates, because not all that long ago, it seems like serious people were discussing the idea of "ultra-low" rates being not just the new normal, but the continuation of a very long downward trend. The phrase "historically low" does evoke the idea that there's a "normal" range from which we can deviate but will generally return to.

https://www.bankofengland.co.uk/-/media/boe/files/working-pa...