二是目前负的实际利率水平能够有效促进消费；
Secondly, it is the negative real interest rates that can effectively promote the consumption;
比方说，经济学家可以画出35岁至59岁人群(存最多钱的一部分人)的比例与实际利率水平的关系曲线。
For example, economists can plot a relationship between the proportion of the population aged between 35 and 59 (when people save most) and the level of real interest rates.
只有当全球增长预期在可见的将来依旧悲观时，实际利率才会保持今天如此之低的水平。
Real rates will stay at today's low levels only if the global growth outlook is gloomy for the foreseeable future.
但他们却极少提及另一重要的经济指标；实际利率(即考虑通胀后利率)的超低水平。
But they very rarely mention an important economic measure; the very low level of real interest rates (ie, after allowing for inflation).
实际利率处于2001年以来的最低水平。
我们可以从上面看出，实际利率正处于霍尔先生所说的“快速增加就业的必要水平”。
And as we see above, the real interest rate is around the level Mr Hall said was necessary to produce rapid job growth.
即便在圣诞节加息之后，中国的实际利率仍只有0.46%，为2008年6月以来的最低水平。
China, even after its Christmas day rate rise, still has a real rate of just 0.46 per cent, its lowest since June 2008.
考虑到当前的失业和通胀水平，泰勒规则认为利率应为- 1.65%，而这是不切实际的。
Given the current levels of unemployment and inflation, the Taylor Rule says the rate should be negative 1.65 per cent, which is not practical.
市场希望今年能继续低于目标利率，实际利率回落到从2001开始的最低水平在上世纪90年代，国外的恐慌往往导致国内经济危机的情况经常发生，现在这个现象已经消失了。
Real interest rates are at their lowest level since 2001. The risk of a panic abroad triggering a crisis at home, which often happened during the 1990s, has diminished.
对于美联储来说，理想的途径是使利率适当地低于通胀水平——既保持实际利率为负，又使美元能够逐渐贬值。
The ideal path for the Fed is for interest rates to stay well below inflation - keeping the real interest rate negative - and for the US dollar to decline gradually.
经济学家们认为，澳大利亚目前5.25%的利率只能说正在接近所谓的中性水平，实际上并不能起到刺激经济的作用。
In Australia, economists believe interest rates, at 5.25%, are now approaching their so-called neutral level rather than actually stimulating the economy.
经济学家们认为，澳大利亚目前5.25%的利率只能说正在接近所谓的中性水平，实际上并不能起到刺激经济的作用。
In Australia, economists believe interest rates, at 5.25%, are now approaching their so-called neutral level rather than actually stimulating the economy.
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