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It is therefore implementing a plan to return interest incorrectly charged to customers".
"Any attempt to return interest rates quickly to more normal levels would recreate recession conditions," the Bank of England.
Since the Fed's current policy seems unlikely to return interest rates to that level before late 2005, inflation could keep rising for another three years.
After a rotten 1999, the total return (interest plus capital gains) on bonds was 7% or more in local-currency terms in every country in the chart barring Japan.
"Barclays has notified the Office of Fair Trading OFTT) which is responsible for consumer credit issues and is implementing a plan to return interest payments to customers as swiftly and efficiently as possible.
When Mark Carney took over at the Bank of England, the big challenge for his governorship was to return interest rates to more normal levels without undermining the UK's economic recovery.
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This returned interest rates to zero, but with three important twists.
Total returns (interest plus capital appreciation) were positive in both domestic currencies and dollars in every country in the chart.
After decades in which investors could buy short-term government bonds and earn double-digit returns, interest rates in Brazil have dropped.
Mr. Bruckenstein, the newsletter publisher, said that even the snazziest computer programs were no better than the assumptions put into them regarding inflation, investment returns, interest rates, taxes and future earnings.
Managing the process of returning interest rates from record low to more "normal" levels was always going to be a challenging task for central banks.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com