Of course they did, quite recently, back to heady heights of still below 1%.
But the Bank of England, giving its favourite 'guidance' suggested that this was the first move of many and that rates would soon be back to normal (well, over 1%).
Then, as always, reality intervenes. There is some fairly grim economic data out today. Firstly Manufacturing is estimated to have shrunk in the last quarter; then imports have increased as our oil refining capacity slips and exports have grown only a little. Throw in some underwhelming services sector growth and some bad weather and we will be lucky to see much first quarter expansion at all. The economists seem to come in at a consensus of around 0.2% of sclerotic growth.
So the Bank will be left with yet another dilemma in May, to raise or not to raise?
The longer-term issue is that the recovery is eight years old now. Lots of things, like the London Property market, the Stock Market, the level of consumer debt are all looking like they could easily move down. This is without the panic inducing international political situation interfering. Even the good old oil price is back to $70 - a high level compared to the past couple of years.
But if we were to go into another recession with very low interest rates and a small Government deficit there are going to be precious few macro levers for the Government to pull to keep the economy going. No doubt most commentators will say this is all the fault of Brexit, but it absolutely is not, these factors would be there in any other situation too, given the length of the bull run.
The saving grace may end up being that the real economy is running with enough spare capacity that slow growth can continue for a long time; even whilst capital owners are stuck for investments and returns.