Interest rates could be at ultra low levels for years, so buy this ASX dividend share

It has been a tough few years for income investors who have had to contend with ultra low rates.

Unfortunately, according to the economics team from Westpac Banking Corp (ASX: WBC), it could still be some time before rates start to improve.

What did Westpac say?

According to the latest Westpac Weekly economic report, the bank is forecasting the cash rate to stay on hold at 0.1% until at least the end of 2022.

And given how rate increases are likely to be gradual when they finally happen, it could be several more years before rates get back to previous levels.

In light of this, it looks as though dividend shares will remain the best way to generate a passive income for some time to come.

But which dividend shares should you buy? One…