In Germany this winter, the governing Christian Democrats proposed steep rate cuts to try to balance the market.
VOA: standard.2010.03.23
It's the interest rate that clears the market for loans and that interest rate determines the market interest rate.
这个利率决定了借贷市场的出清,并决定市场利率的大小
Now, the interest rate in Irving Fisher's world has to equate supply and demand in the market for debt.
在费雪的理论里,利率必须与,债券市场的供需关系保持平衡
I remember when interest rate swap accounting was done on a different market security basis.
我记得利率会换记账法,在不同的证券市场施行时。
And, the market wouldn't believe them because you can't grow every year faster than the interest rate.
而且市场也不会相信他们,因为它不可能比利率上涨得还快
I will get to this later, where I have the return minus the interest rate on this axis and the market return minus the interest rate on this axis.
迟一些我会讲到,就是用这个轴表示收益减去利率,这个轴表示市场收益率减去利率
Why the interest rate clears-- it's a mysterious phenomenon, because it's a market phenomenon and each person only sees his or her own contribution to the market and not the whole market.
为什么这个利率能让市场出清...,这是个不可思议的市场现象,每个人只能看到自己在市场中的行为,而不了解整体市场情况
Nobody can see the interest rate-- why the interest rate's at the level it is in the market-- because nobody can see all these individuals; but that's why the interest rate gets determined and is in equilibrium.
没有人能知道,为什么市场利率会是现在的结果,因为没有人能知道其他人的想法,但市场利率就是这样确定并达到均衡
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