Could low interest rates lead to a loss of potential growth in OECD countries?

To be sure, low interest rates keep borrowers solvent and normally boost investment. But they also give rise to: Companies with dominant positions, which lack the incentive to modernise; Zombie firms, i.e. inefficient companies that survive only thanks to the fall in their debt interest payments; A weakening of banks (particularly in Europe), which weakens credit supply; The diversion of savings into money or speculative assets (real estate) at the expense of productive capital. All these negative consequences of a long period of very low interest rates lead to a slowdown in productivity and a decline in potential growth.