If the economy performs more strongly this year than expected, that should be the spur to start tightening, by raising the base rate from its all-time low of 0.5%.
如果本年经济表现超出预期,将成为提高一直以来0.5%的低基准利率,并开始收紧的肇始。
And that is when the bank is likely to start restoring more normal monetary Settings, by raising the base rate from its all-time low of 0.5%.
那可能是中央银行通过提高已是空前最低的0.5%的基准利率的时候,以恢复到正常的货币参数。
Short-dated yields may stay low: Barclays Capital notes they just start to rise in earnest about six months before the first rate increase, which may only come in the second half of 2010.
短期债券收益率可能保持在低位:巴克莱(Barclays Capital)指出,它们只是在首次加息前六个月左右才开始真正上涨,而首次加息可能要等到2010年下半年了。
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