The tool was the short-term interest rate, the target was price stability.
这里说的工具就是短期利率，而目标则是物价稳定。
The purchases are meant to drive down long-term interest rates, and at first they did.
联储意在以大收购来压低长期利率，起初也确实做到了。
Is it in America's long-term interest?
这符合美国的长期利益吗？
Of course, the short-term interest rate isn't the cost of capital;
当然，短期利率不是资金成本；
It would also, almost certainly, entail a jump in long-term interest rates.
另外，几乎可以肯定地说，这还需要提高长期利率。
American official short-term interest rates are far more likely to go down than up.
美国官方的短期利率更有可能下降而非上升。
The action is known as quantitative easing. The goal is to reduce long-term interest rates.
此举被称为量化宽松（quantitative easing），目的在于降低长期利率。
Such a loss of confidence might then undermine inflationary expectations and raise long-term interest rates.
人们丧失对英镑的信心，可能削弱通胀预期，并推高长期利率。
Such a loss of confidence might then undermine inflationary expectations and raise long-term interest rates.
人们丧失对英镑的信心，可能削弱通胀预期，并推高长期利率。
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