This is a frequent misguided criticism. The job of central banks isn&#x27;t to ensure that savings accounts have a high rate of return. They&#x27;re not robbing virtuous savers.<p>It is the nominal rate of return which we are talking about too, which means that the rate reflects the low rate of inflation. An increase as a result of inflation would amount to no long-term gain for savers.<p>Real returns result from real investments, not fluctuations in the money supply.