Otherwise negative real interest rates will inflate asset bubbles.
否则，负的真实利率会助推资产泡沫。
Secondly, it is the negative real interest rates that can effectively promote the consumption;
二是目前负的实际利率水平能够有效促进消费；
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)。
Not only are real interest rates negative, but inflation is also helping to bring the housing market back to fair value with a smaller fall in prices than otherwise.
不仅实际利率是负数，而且通胀也帮助房地产市场用比其他国家更小的跌幅回归公平价值。
But the central bank can use the policy to communicate its intentions and raise expectations for inflation, which reduces real interest rates, even into negative territory.
但是，中央银行能够采取相应的政策来影响利率的变化，通过增加通胀预期来降低实际利率，使其跌入负利率区间。
But persistently falling prices would constrain central Banks' ability to boost growth, because they would be unable to push interest rates below inflation-ie, make them negative in real terms.
但是持续下跌的价格将限制各国央行刺激增长的能力，因为他们将不能够将利率推低到通胀率以下——也就是说，将实际利率保持在零以下。
It also means that real interest rates can't be negative, and so are undesirably high.
这也就意谓着实际利率不可能是负值，且不合期望地过高。
There are ultra-low interest rates (real interest rates are probably negative); this is leading to certain asset bubbles – particularly in real estate and public equities.
该地区利率极低（实际利率很可能为负值），这必将导致资产泡沫，特别是在房地产和公众持股领域。
Real interest rates are now negative, something that may skew incentives to spending.
实际利率现在是负数，这有可能引起盲目消费。
Real interest rates are now negative, something that may skew incentives to spending.
实际利率现在是负数，这有可能引起盲目消费。
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