Depending on the circumstances , this cycle of outflow , fall in aggregate balance , higher short - term interest rates , compensating inflow , rise in aggregate balance and lower short - term interest rates took on average about a week or two to complete 视乎不同情况而定,这样资金流出总结馀减少短息上升吸引资金回流总结馀增加,以至短息回落的周期,平均在一两个星期内完成。
Easy monetary conditions , with short - term interest rates at nearly zero , while beneficial to economic recovery for the time being , should preferably not be sustained for too long , to the extent of risking inflationary consequences in consumer prices or asset prices 宽松的货币状况短期利率接近零虽有利目前的经济复苏,但亦不宜维持过久,以致对消费物价或资产价格造成通胀压力。
These gloomy statistics suggested that the economy was weakening well before the credit turmoil hit , and all but sealed the case for a cut in short - term interest rates on september 18th , certainly of a quarter point , perhaps by as much as half a percentage point 那些持悲观观点的统计学家预计经济在信贷危机前就已经走弱,而这些都表明9月18日联储会将削减利率0 . 25 % ,也可能是0 . 5 % 。
Nevertheless , reflecting renewed concerns of an increasing budget deficit , short - term interest rates generally maintained a small positive differential against their us dollar counterparts ( except for the third quarter when interbank liquidity was relatively abundant ) 然而,由于市场再次忧虑预算赤字会上升,因此短期利率普遍略为高于同期美元利率(第三季除外,因该季银行同业流动资金相当充裕) 。
The tools at its disposal include modifying benchmark interest rates ( such as the fed funds target and the discount rate in the us ) , conducting money market operations ( which influence short - term interest rates ) , and changing banks ' reserve requirements 可用的手段包括调整基准刊率(如美国的美联储基金目标利率和贴现率) ,指导公开市场业务操作(货币市场的运作可影响短期利率) ,修改银行的准备金要求。
The other test occurred in late october when market participants switched out of hong kong dollar as short - term interest rates fell below corresponding us dollar interest rates . as a result , the aggregate balance fell from a level of around $ 2 . 9 billion in early october to $ 1 billion on october 29 另一次考验出现在十月底,其时港元短期利率跌至低于相应的美元利率水平,导致市场人士将资金撤出港元,结果总结馀由十月初约29亿元跌至十月二十九日的10亿元。
While changes in reserve requirements can affect short - term interest rates by changing banks demand for reserves , these actions can have disruptive effects on banks since banks need time to adjust their portfolios to accommodate the changed requirements , especially if the financial markets are not fully developed and the distribution of excess reserves among banks is uneven 调整储备要求尽管可以改变银行对储备资金的需求,从而影响短期利率,但同时亦可能为银行带来不良的影响。这是由于银行需要时间调整其资产组合以符合新的储备要求。如果有关地区的金融市场尚未全面发展,或银行之间的过剩储备资金分布不均,影响则可能更甚。
So - called the interest rate term structure in the paper , is the different term structural analysis and estimation in government debt bond market . the influent factor of the interest term include : the capital long period benefit , the short - term interest rate , the expected inflation , macro variable ability of adaption 所谓利率期限下,就是指对不同时点的整个国债市场利率期限结构的分析和估计。期限结构的因素有资本回报率、短期利率的影响、长短期利差、通货膨胀预期、宏观调控能力等。
Meanwhile , with short - term interest rates for the hong kong dollar at a slight premium over those for the us dollar , compensating inflows soon emerged . us dollars were invariably put to us , for the currency board account ; and the aggregate balance consequently moved back into positive territory and short - term interest rates eased back to near the corresponding levels for the us dollar 与此同时,由于港元短期息率所处水平略高于美元息率,自然吸引资金流入,抵销了原来资金流出的影响在这个过程中,银行向金管局出售美元,金管局便把这些交易记入货币发行局的帐目,最终使总结馀变回正数,港元短期息率也会恢复至美元相若水平。