Lowering short-term interest rates is the Federal Reserve's main way to get banks to increase lending.
VOA: special.2010.11.05
The red line is long-term interest rates, but I won't talk more about that right now.
红色的线是长期利率,这节课不会谈论
All of these banks are really in control of short-term interest rates and these interest rates are used to try to manage and stabilize the economy.
所有国家的中央银行都可以,控制短期利率,通过控制短期率达到,管理和稳定经济的作用
"If the Fed goes out and buys longer-term Treasury securities, and buys them in significant amounts, what will happen is longer-term interest rates should come down.
VOA: standard.2009.03.18
It also serves us long term national interest.
也有助于我们的长远利益。
In his second term, he will have to consider how and when to withdraw heavy intervention in the financial industry and raise interest rates.
VOA: special.2009.08.28
The theory of the term structure is the theory of how interest rates differ according to maturity or term.
利率期限结构理论就是,怎样由不同的期限,产生不同的利率
People can't pay --they can't pay a high interest if they don't have it as a long-term loan.
如果银行不发放长期贷款,他们就不能够支付高额利息
This is January of this year, before the Fed cut interest rates, and this is the term structure.
这是今年一月,联储局降息前的期限结构图
Now, I want to talk about the term structure of interest rates and that's my next plot here.
接下来我要讲利率期限结构,下一张图是
Adjustable rate mortgages have a long term -they might last for thirty years -but the interest rate is not fixed for the whole thirty years.
可调利率抵押贷款的期限很长,也许会长达30年,但是利率在30年间并不是固定的
What he says is those forward rates are what people think interest rates will be in the future and that's called the expectations theory of the term structure.
这里所指的远期利率就是人们预期的,未来利率,我们将这种理论称作,利率期限结构的预期理论
He said that we shouldn't think that the-- the simplest story of the term structure of interest rates, which he expounded there, is that forward rates equal expected future interest rates.
他提出,我们不应该认为,他在书中写道,对于利率期限结构,最简略的概括,是远期利率等于未来利率的期望值
Forward rates I wrote a survey article years ago about the term structure of interest rates and I wanted to find out who was the originator of the term "forward rate."
远期利率,很多年前我写过一篇,研究利率期限结构的文章,我想知道谁是"远期利率"这个词的创始人
He had a diagram, which illustrated what is the ultimate cause of interest, and it helps us to think about this diagram whenever we try to understand the term structure.
费雪教授用一张图,来解释决定利息的本质因素,每当我们试图理解期限结构时,就会用到这张图
Even though the deposits are short-term and the depositor can get the money at any time, the depositor is earning interest of a level that can only be made on long-term loans.
即使是短期存款,存款人可以随时取走存款,存款人也可获取仅从长期贷款中,才可得到的利息水平
We're talking about discount bonds, and then coupon-carrying bonds, and then talk about the term structure of interest rates and why we have interest rates.
我们先讲贴现债券,然后是附息债券,再讲讲利率的期限结构,以及为什么要有利率
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