But you can't have negative real interest rates forever.
但是你不可能一直拥有如此低的贷款利率。
Otherwise negative real interest rates will inflate asset bubbles.
否则，负的真实利率会助推资产泡沫。
In a negative real interest rate environment, you cannot not speculate.
负利率时代，你不能不投机。
Negative real interest rates were worth tax revenues equivalent to 6.3% of GDP per year.
负的实际利率相当于征收占GDP6.3%的税收。
It can try to achieve negative real interest rates by creating expectations of inflation.
它能试着通过制造通货膨胀预期而实现负的实际利率。
Change because of negative real interest rates negative impact on the macroeconomy is very great.
改变，因为消极的实际利率的负面影响的宏观经济是非常大的。
Deflation robs a central bank of its ability to stimulate spending using negative real interest rates.
面对通货紧缩，央行却无力通过实际负利率来刺激消费。
One element driving this is cheap money and negative real interest rates, with inflation running at 3%.
背后的一个驱动因素，是低成本资金和3%通胀率之下的实际负利率。
America ran negative real interest rates in 2002-05, even though consumer-price inflation was quiescent.
在2002年5月，美国的实际利率为负，尽管如此，美国的消费者物价通胀率还是没变。
There has been a very strong historical relationship between negative real interest rates and stronger gold prices.
历史上，负利率就意味着金价走高，两者间是很强的负相关的关系。
So-called negative real interest rates often encourage savers to shift money into assets such as real-estate, sparking risk of bubbles.
而负的真实利率常常会导致存款者把资金投入房地产，这导致了地产的泡沫风险。
Cheap money led to the wholesale underpricing of risk; America ran negative real interest rates in 2002-05, even though consumer-price inflation was quiescent.
廉价资本导致了大规模的风险低估；在2002年5月，美国的实际利率为负，尽管如此，美国的消费者物价通胀率还是没变。
I suspect that with the subprime crisis the Fed will be pushing real interest rates down dramatically again and we may be in a period of negative real interest rates again.
我推测，由于次贷危机，美联储会又一次大幅下调实际利率，我们可能会再次进入，负实际利率的时代。
Eighteen to twenty-four months of negative real interest rates contributed to the sharp increase in growth rates in both countries and, simultaneously, to sharp increases in oil usage.
十八到二十四个月的实际负利率，是成为这两个国家增长速度大幅度上升、同时也是石油使用量大幅度上升的原因之一。
This will significantly undercut support for the dollar. This, together with the ongoing environment of negative real interest rates, GFMS believes, should prove highly supportive of gold.
这显然会削弱美元的实际价值，再加上即将来临的负实际利率时代，金价将获得强有力支撑。
Grain and food prices are rising, and asset prices have been driven up with ample liquidity and the negative real interest rate, he said. "it is becoming harder to enforce macroeconomic policies."
粮食和食物价格正在上升，固定资产价格因为流动性货币充足和实际负利率上涨。
The Fed held real interest rates negative for several years, and even today real rates remain low.
有好几年，美联储都把实际利率控制为负数，直到现在，实际利率依然很低。
The real rate of interest paid on bank deposits is negative and lending rates are far too low for such a fast-growing economy.
为银行存款支付的实际利息率是负数，而贷款利率对于这样快速增长的经济来说太低了。
Even with the federal funds rate at 2.5 percent, the real interest rate - adjusted for inflation - is in negative territory.
而联邦基金利率为2.5%，经通胀调整后的实际利率已是负值。
Also, with inflation back in positive territory, real interest rates in Japan are still negative and short-term rates are not expected to rise above inflation until next year.
另外随着通胀率回升为正，日本的实际利率仍然为负，而短期利率年内预期不会超过通胀率。
In 2010, the real interest rate for savers with one-year fixed-term deposits averaged negative 1.1%.
2010年，一年定期存款的实际利率平均为- 1.1%。
Negative real policy interest rates have helped inflate asset price bubbles, which artificially stimulate spending - for a while.
负的实际政策利率曾在一段时间内助长了房地产价格泡沫，人为地刺激了消费。
Real interest rates (ie, after allowing for inflation) have been negative for the past two years and even now are barely positive (see chart).
实际利率(包括通货膨胀)过去两年一直为负，即使是现在，也仅仅勉强为正(见图)。
Real interest rates are now firmly negative.
真实利率现在完全是负值了。
Real interest rates are now firmly negative.
真实利率现在完全是负值了。
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