The idea that interest rates are going to rise is fanciful. Sure they may tick up from time to time but the long term trend is clear, rates are falling world wide. They have been doing so for 35-40 years and will probably continue to do so for the next 35-40 years. Things don’t happen for 40 years without a reason and the reason is simple … there are strong underlying social, economic and technological trends that have been driving interest rates down over the long run. Furthermore, the idea that central banks actually control interest rates is also fanciful. Interest rates are set by the market, just like the cart does not push the horse, so to the RBA or Fed does not set interest rates, they simply respond to what the market is doing. The market has low inflation, the RBA responds by cutting. Hence it is the market that really lowers the interest rate, the RBA being the cart is simply being pulled along by the horse.