实际利率

在此基础上分析了现行的实际利率法的不足，并提出了新的实际利率法。

Based on it , the paper points out insufficiency of current actual rate of interest method and puts forward a new method .

除拉美一些国家外，利率市场化改革一般都将导致实际利率水平的上升，但上升的幅度主要取决于宏观经济环境特别是经济增长稳定性和资金充裕程度。

Except some countries of Latin America , interest rate market-oriented reform causes true rate of interest rising of competence generally , but the range of rising mainly depends on macroeconomy environment especially economic growth stability and financial capability .

通货膨胀会更低，因此名义利率换算成实际利率会更具吸引力。

Inflation would be lower and so nominal rates would be rather more attractive in real terms

剔除通货膨胀因素，实际利率为负。

The inflation-adjusted ( or inflation-corrected ) interest rates are negative .

在国际货币基金组织（IMF）最近公布的《世界经济展望》（WorldEconomicOutlook）报告中，有一章关于全球实际利率的分析令人关注。

The International Monetary Fund 's latest World Economic Outlook includes a fascinating chapter on global real interest rates .

IMF赞同实际利率可能在长期内维持低位的观点。

The IMF agrees that real interest rates could remain low for a prolonged time .

如果假设欧洲央行（ECB）能够实现其通胀目标，这意味着长期实际利率为零。

If one assumes the European Central Bank will meet its inflation target , this means a long-term real interest rate of zero .

IMF认为，上世纪80年代到90年代初，货币政策的改变是对实际利率影响最大的因素。

The IMF reckons that , in the 1980s and early 1990s , changes in monetary policy were the most powerful influence on real interest rates .

在亚洲平均gdp增幅达到7%或8%，产出缺口较小的情况下，结论是不容置疑的：实际利率有必要提高。

While average regional GDP growth runs at 7 or 8 per cent and output gaps are small , the conclusion is unarguable : real rates need to be higher .

现在和当初的问题都在于，美联储（Fed）采取了一种有悖于教科书处方的政策，继续推行越来越宽松的货币政策（按实际利率计算）。

The problem is and was that the Federal Reserve adopted a policy that ran against the textbook prescription by continuing an increasingly easy monetary policy ( indexed by real interest rates ) .

即便实际利率上升到比如说3%，扣除物价因素后的财政成本也只有GDP的2%。

Even if real rates of interest were to rise to , say , 3 per cent , the fiscal cost , in real terms , would be a mere 2 per cent of GDP .

中国一年期基准贷款利率为7.02%仅比总体cpi高半个百分点，实际利率很低。

With the one-year benchmark lending rate at 7.02 per cent only half a percentage point above the headline CPI China has minimal real interest rates .

M1、M2对实际利率和预期通货膨胀变动都是显著敏感的，而且通胀的半弹性要大于利率的半弹性。

Ml and M2 are sensitive to change of real interest rate and anticipated inflation , and semi-elasticity of the latter to money is bigger than the former 's.

尽管整个亚洲地区的利率水平普遍低于雷曼（lehman）倒闭之前的时期，但通胀的缓解将推高实际利率，并提供一些降息的空间。

Though interest rates across the region are generally lower than they were pre-Lehman , a fall in inflation would boost real interest rates and allow for some cuts .

中国已多次加息，但由于消费者价格指数（cpi）在6%以上，而基准贷款利率只是稍高一些，因此实际利率仍处于较低水平。

Interest rates have risen repeatedly , but with CPI inflation above 6 per cent , and benchmark lending rates only slightly higher , real interest rates are low .

意大利公共债务与国内生产总值（GDP）的比例为120%，实际利率接近5%，同时经济增长停滞。在这种形势下，仅就稳定债务而言，意大利基本盈余就需要达到GDP的5%。

With public debt at 120 per cent of gross domestic product , real interest rates close to 5 per cent and zero growth , Italy would need a primary surplus of 5 per cent of GDP merely to stabilise its debt .

imf表示，美元贬值加上短期实际利率下跌，“通过一些渠道推高了大宗商品价格，例如提高了大宗商品作为另类资产的吸引力。”

The IMF said that the constellation of dollar depreciation and falling short-term real interest rates " has pushed up commodity prices through a number of channels , including by enhancing the attractiveness of commodities as an alternative asset . "

在两个市场中，CKLS模型均无法预测实际利率变化的波动情况。

But the model can 't predict the volatility of repo rates ' changes on either of the two markets .

渣打银行经济学家JinnyYan说，负的实际利率、上涨的PPI及上升的通涨预期都是加息的重要原因。

Negative real interest rates , accelerating PPI and rising inflation expectations are all important reasons to begin hiking interest rates , said Jinny Yan , an economist at Standard Chartered .

虽然银行报出的利率与实际利率水平间的差异可能看似很小，但其牵涉的金融资产整体规模巨大，基于Libor的各类合约价值高达数百万亿美元。

Although the difference between the reported rate and the actual rate might seem small , the total amount of money involved is material , given that Libor rates affect contracts worth hundreds of trillions .

摩根大通（jpmorgan）经济学家大卫汉斯利（davidhensley）表示，衡量全球产能利用率的各种指标，处于或接近“逾10年来的最高水平”，而全球实际利率只是接近其历史平均水平。

David Hensley , an economist at JPMorgan , says measures of global capacity utilisation are at or near " their highest levels in more than a decade " , while global interest rates are only approaching their historic average levels in real terms .

瑞银（UBS）表示，在不包括日本在内的亚洲地区，平均实际利率名义利率减去通货膨胀率已经为-1.7%，远低于10年前亚洲金融危机前后的水平。

Real interest rates – the nominal interest rate minus the rate of inflation – are already negative by an average 1.7 per cent in Asia excluding Japan , according to UBS , well below the level both before and after the Asian financial crisis of a decade ago .

麦肯锡（mckinsey&co）莫斯科办事处主管艾琳施瓦克曼（ireneshvakman）补充道，由于实际利率为负，许多人也更愿意将收入消费出去，而不是存在银行的储蓄账户里。

Given negative real interest rates , many people also prefer to spend what they earn rather than put it into a bank savings account , adds Irene Shvakman , director at the Moscow office of McKinsey & Co.

首先，正如施罗德集团（schroders）亚洲分销业务主管利芬德布鲁因（lievendebruyne）指出，许多亚洲国家的实际利率为负，因此，传统债券和货币市场基金会显得没有吸引力。

Firstly , as Lieven Debruyne , Asian head of distribution at Schroders , points out , many Asian countries are suffering from negative real interest rates , so traditional bond and money market funds can appear unattractive .

股票需求主要受资金供给的影响，与经济增长的关联度不高，对实际利率和和名义利率不敏感，M0和居民储蓄存款分别对股票需求有显著的正效用和负效用。

Demand of stocks is mainly affected by money supply , but has not high correlation with economic growth and is not sensitive with the real or nominal interest rates . M0 has significant positive effects , and savings deposits have negative effects on the stock demand .

相反，实际利率低得惊人。

On the contrary , real interest rates are astonishingly low .

此举将在不影响银行利润的情况下提高实际利率。

That would boost real interest rates without squeezing bank profits .

眼下美国的实际利率为负。

American interest rates are now negative in real terms .

很快意大利的实际利率将会更高，经济将出现负增长。

Soon real rates will be higher and growth negative .

实际利率再没大幅偏离到负值区域。

Real interest rates never wandered far into negative territory .