Less certain is the outlook for long-term interest rates, most likely a story of rising yields.
Iceland's long-term interest rate is just over 8%, compared with over 13% for Greece.
But the short-term borrowing that finances it would also bid up short-term interest rates.
By its own words, the goal of quantitative easing (QE) was to lower long-term interest rates.
Since December 2008, the central bank has kept its short-term interest rate target at 0.00%-0.25%.
U.S. equity prices continue to rise as a benign short-term interest-rate policy holds sway.
Another sign of trouble is the current large gap between short-term and long-term interest rates.
Short-term and long-term interest rates are virtually on the same level -- another disturbing symptom.
The Fed is guessing at what the right level of short-term interest rates is.
The stated reason for QE-2 was to lower long term interest rates but it failed miserably.
His mid-2013 commitment will help keep longer term interest rates lower that they might otherwise be.
Their attacks could ultimately backfire if they undermine investor confidence and push up long-term interest rates.
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But the appeal is to emotion, not to the practical, long-term interest of helping the disadvantaged.
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Policy-makers have already undertaken two rounds of QE, since short-term interest rates are already near zero.
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For the actual aim of such quantitative easing is to bring long term interest rates down.
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As a result, British short-term interest rates are 7.25%, while continental rates are around 3.3%.
Real short-term interest rates in Japan (ie, adjusted for inflation) are zero or even slightly negative.
Investment has been strong and will be helped by recent declines in long-term interest rates.
Now, many borrowers are stuck with long-term interest rates of 6 percent or higher.
It is not only America that will see short-term interest rates turning up this year.
But, as markets perceive a lower risk of inflation, real long-term interest rates are falling.
WTO, the short-term interest of presidential candidates of any party will be to talk tough.
With short-term interest rates at rock bottom, the Bank of Japan cannot lower them any further.
Last year the Federal Reserve cut short-term interest rates 11times, to 1.75% from 6%.
Too much public borrowing may raise long-term interest rates, offsetting the stimulus in a milder way.
Long-term interest rates have also been falling sharply of late, and may have further to fall.
Fewer than 700, 000 short-term interest-rate futures contracts traded on the Chicago Mercantile Exchange just six years ago.
As the economy strengthens--whether a little or a lot--it is likely that long-term interest rates will rise.
What if the Bank of Japan suddenly raised short-term interest rates, choking off the yen carry trade?
These monetary stimulus policies have pushed intermediate- to long-term interest rates lower than they would be otherwise.
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