But future interest-rate rises in America and Europe could yet strangle any recovery.

但是，美国和欧洲未来利率的上升有可能会抑制地产业的恢复。

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If these premiums are constant over time, the central bank can still determine long-term interest rate via changing (market agents' expectations regarding future) short-term interest rates.

如果这些溢价随时间保持不变的话，央行仍然可以通过调整(市场参与者对未来预期的)短期利率来左右长期利率。

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During the economic thriving process, interest rate remains low, compared with people's expectation for future earnings.

而在经济繁荣的过程中，利率相对于人们对于未来收益的预期来说，一直都是低的。

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The Federal Reserve will hold its next meeting to discuss the interest rate and the future of QE2 on March 15.

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That either means the recovery won't actually materialise, because households won't want to borrow on that scale, or it means that the economy will remain vulnerable to an interest rate shock for the foreseeable future (if interest rates rise, the spending power of consumers would be devastated).

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If you are willing to buy individual bonds, you can also build a ladder with bonds of differing maturities to offset future interest rate risk.

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