Low interest rates - who benefits, rich or poor? I just heard Andy Haldane, chief economist at the Bank of England make the following statement about the bank's ultra low interest rate policy and accusations that it disproportionately benefited the rich:


  "on average those that have debts tend to be poorer than those that
  have savings which has meant that our monetary policy actions with
  interest rates have if anything shrunk the the degree of inequality in
  incomes between rich and poor."


This struck me as being wrong because its the rich home-owners that may borrow four or five times annual income, whereas the poor (non-home owners) would be hard pressed to ever borrow more than half a years wages.

Is there any published analysis that would justify (or refute) the Bank of England's claim?
https://www.bundesbank.de/Redaktion/EN/Downloads/Publications/Monthly_Report_Articles/2016/2016_09_effects.pdf?__blob=publicationFile

That should fit your question. 

Imho we have never seen these kind of interest rates, and It will be very entertaining to see how this works out. 

Could lead to another black swan event, which is nothing you can calculate/prepare for.