According to Natixis, with interest rates already reached the minimum, they can't fall further, because the shock of coronavirus crisis could not be offset by a decrease in interest rates.
«If the interest rates — in contrast to what happened after the sub-Prime crisis — cannot fall, the only solution for crisis response is that which was actually used: very expansionary fiscal policy with full monetization of the budget deficit. Fiscal policy must be more expansionary than after the crisis of subprime lending, with interest rates at this time can not fall more. Monetization prevents the effect of crowding out and rising long-term interest rates, which would be the result of a huge budget deficit (and increase in corporate debt), if Central banks did not buy bonds».
Information-analytical Department TeleTrade