neutral rate of interest

简明释义

不赢不亏的利息率

英英释义

例句

1.During economic downturns, the actual interest rates may fall below the neutral rate of interest (中性利率) to stimulate borrowing.

在经济衰退期间，实际利率可能会低于中性利率（中性利率），以刺激借贷。

2.The neutral rate of interest (中性利率) serves as a benchmark for determining the appropriate level of interest rates.

在确定适当的利率水平时，中性利率（中性利率）作为基准。

3.When the economy is growing too fast, the Fed may raise rates above the neutral rate of interest (中性利率) to cool down inflation.

当经济增长过快时，美联储可能会将利率提高到高于中性利率（中性利率），以抑制通货膨胀。

4.The central bank aims to adjust the policy rate to align with the neutral rate of interest (中性利率) to foster economic stability.

中央银行旨在调整政策利率，以与中性利率（中性利率）保持一致，从而促进经济稳定。

5.Investors often look for signals that indicate whether the current rate is above or below the neutral rate of interest (中性利率).

投资者通常寻找信号，表明当前利率是高于还是低于中性利率（中性利率）。

作文

The concept of the neutral rate of interest refers to the theoretical interest rate at which monetary policy neither stimulates nor restrains economic growth. It is considered a crucial benchmark for central banks when setting interest rates. Understanding the neutral rate of interest is essential for policymakers, economists, and investors alike, as it provides insight into the overall economic conditions and helps gauge whether current monetary policy is appropriately aligned with long-term economic goals.To grasp the significance of the neutral rate of interest, one must first recognize its role in the economy. When the actual interest rate is below the neutral rate of interest, borrowing becomes cheaper, encouraging spending and investment. This increased demand can lead to economic expansion, potentially resulting in inflation if the economy overheats. Conversely, when the actual interest rate exceeds the neutral rate of interest, borrowing costs rise, leading to decreased consumer spending and investment, which can slow down economic growth.The neutral rate of interest is not a fixed number; it fluctuates based on various factors, including productivity growth, demographic changes, and global economic conditions. Central banks, such as the Federal Reserve in the United States, continuously assess these factors to estimate the current neutral rate of interest. By doing so, they aim to maintain a delicate balance between fostering economic growth and controlling inflation.Moreover, the neutral rate of interest influences financial markets significantly. Investors often look to this rate as a guide for future interest rate movements. If the central bank sets rates significantly lower than the estimated neutral rate of interest, it may signal an accommodative monetary policy intended to spur growth. On the other hand, if rates are set higher, it might indicate a tightening policy aimed at curbing inflation.Understanding the neutral rate of interest also aids in interpreting economic indicators. For instance, if the economy is growing, but inflation remains low, it could suggest that the actual interest rate is close to the neutral rate of interest. Conversely, if inflation rises sharply, it might indicate that the actual rate is below the neutral rate of interest, prompting central banks to consider raising rates to prevent an overheating economy.In recent years, the concept of the neutral rate of interest has gained even more attention due to the prolonged period of low interest rates following the 2008 financial crisis. Many economists have debated whether the neutral rate of interest has declined permanently due to structural changes in the economy, such as slower productivity growth and aging populations. This ongoing discussion highlights the importance of continuously re-evaluating the neutral rate of interest to ensure that monetary policy remains effective in achieving its objectives.In conclusion, the neutral rate of interest serves as a vital tool for understanding the dynamics of monetary policy and its impact on the economy. By recognizing its significance, individuals and institutions can make more informed decisions regarding investments, consumption, and savings. As the economy continues to evolve, so too will the neutral rate of interest, making it an essential concept for anyone interested in economic trends and policies.

中性利率的概念指的是一种理论利率，在这种利率下，货币政策既不刺激也不抑制经济增长。它被认为是中央银行设定利率时的一个关键基准。理解中性利率对政策制定者、经济学家和投资者来说都至关重要，因为它提供了对整体经济状况的洞察，并有助于评估当前货币政策是否与长期经济目标适当对齐。要掌握中性利率的重要性，首先必须认识到它在经济中的作用。当实际利率低于中性利率时，借款变得更便宜，鼓励消费和投资。这种需求增加可能导致经济扩张，如果经济过热，可能会导致通货膨胀。相反，当实际利率超过中性利率时，借款成本上升，导致消费者支出和投资减少，这可能减缓经济增长。中性利率并不是一个固定的数字；它会根据生产力增长、人口变化和全球经济条件等各种因素而波动。中央银行（如美国的联邦储备委员会）不断评估这些因素，以估算当前的中性利率。通过这样做，他们旨在在促进经济增长和控制通货膨胀之间保持微妙的平衡。此外，中性利率对金融市场的影响也很显著。投资者通常将这个利率视为未来利率变动的指南。如果中央银行将利率设定得明显低于估算的中性利率，这可能表明一种宽松的货币政策，旨在刺激增长。另一方面，如果利率设定得较高，这可能表明一种收紧的政策，旨在遏制通货膨胀。理解中性利率还有助于解读经济指标。例如，如果经济在增长，但通货膨胀保持低位，这可能表明实际利率接近中性利率。相反，如果通货膨胀急剧上升，这可能表明实际利率低于中性利率，从而促使中央银行考虑提高利率以防止经济过热。近年来，由于2008年金融危机后长期低利率的局面，中性利率的概念受到了更多关注。许多经济学家争论中性利率是否因经济结构变化（如生产力增长缓慢和人口老龄化）而永久下降。这场持续的讨论突显了不断重新评估中性利率的重要性，以确保货币政策在实现其目标方面仍然有效。总之，中性利率作为理解货币政策动态及其对经济影响的重要工具。通过认识到它的重要性，个人和机构可以在投资、消费和储蓄方面做出更明智的决策。随着经济的不断演变，中性利率也将不断变化，使其成为任何对经济趋势和政策感兴趣的人必须了解的概念。