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PIMCO: Crisis may lock in low interest rates for up to five years

At the world's largest bond investor, extremely low rates are expected for up to five years.

The European Central Bank in Frankfurt. | Photo: Kai Pfaffenbach/Reuters/Ritzau Scanpix

According to the world's largest bond investor, PIMCO, the current low interest rate level may continue for up to five years, Danish business daily Børsen reports.

The central banks and government strategies to keep the economy going through the issue of government bonds will force the ECB and the Federal Reserve to lock in extremely low interest rates, says Joachim Fels, chief global economist at PIMCO.

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