Many analysts now expect it to keep its borrowing rate on hold at 6% in July.

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The measure is designed to keep a lid on bond yields and borrowing costs.

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You folks out on the Left Coast just keep borrowing money.

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Under the OMT, the ECB pledged to purchase government bonds of peripheral Eurozone nations in unlimited quantities on the secondary market to keep borrowing costs down, so long as the debtor nations first applied for assistance from the European Stability Mechanism (ESM) and agreed to the attendant conditions.

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The program should successfully keep borrowing costs low, but the full impact on the economy is unclear.

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All of which means that for the foreseeable future there will be even more pressure on a reluctant European Central Bank to intervene in government bond markets to keep implicit borrowing costs for Spain and Italy below penal levels.

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While deflation may be the more immediate threat that the Federal Reserve and Treasury Department are correctly focused on, uncontrolled spending and borrowing could easily necessitate much higher Treasury interest rates to keep foreigners financing our mounting debt.

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Germany has for the last 50 years been tough on inflation but at the moment its' economy could probably do with cheaper borrowing to keep growth going.

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To keep borrowing costs from exploding, municipal borrowers sought big bank letters of credit as backstop guarantees on the shorter than they wanted variable-rate demand obligations they turned to.

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