There is a lot of wonkish debate about neutral rates - and it can get quite heated as R* is impossible to observe and verify ...

But the debate still rages - because in practice r-star's are used extensively as an anchor for monetary policy decision makers and central bankers ...

This note comes from the BoE ... a the very end of their analysis they suggest that they don't think the world has changed much ... the real neutral rates is not far off zero ... simply because the biggest drivers of change in their estimate of the rate come from longevity (which drives more precautionary saving and isnt changing) and productivity (which might change given AI but has consistently refused to budge) ...