负利率

具体政策包括：年通货膨胀率达到2%，抑制日元过度升值，制定负利率，量化宽松，扩大公共投资，日本银行购买建设性国债，以及修订《日本央行法》。

Specific policies include inflation targeting at a 2 % annual rate , correction of the excessive yen3 appreciation4 , setting negative interest rates , radical5 quantitative6 easing , expansion of public investment , buying operations of construction bonds by Bank of Japan ( BOJ ) , and revision of the Bank of Japan Act .

因此，负利率并不是一个非此即彼的命题。

Negative interest rates are therefore not an all-or-nothing proposition .

正如英国央行（BoE）行长马克•卡尼（MarkCarney）上周末警告的那样，努力保护国内储户免受负利率的影响，只不过是搞竞争性贬值的另一种说法。

And as Mark Carney , governor of the Bank of England , warned at the weekend , trying to insulate domestic savers from negative rates is just competitive devaluing by any other name .

负利率类似于对存款征税。

A negative interest rate is like a tax on deposits .

但将焦点集中于实际负利率并不恰当。

But the focus on negative real interest rates is misplaced .

这意味着，要就实施负利率的“游戏规则”达成一致。

That means agreed rules of the game on negative rates .

通货膨胀下的负利率又进一步诱发了超前消费。

And the minus interest rate further induces overstep consumption .

实际负利率并非罕见的现象。

Negative real interest rates are not unusual .

当前我国负利率现状及货币政策选择

Negative Interest Rate and Selection of Monetary Policy

该央行实行负利率，是为了一种目的性很强的操作。

It used negative interest rates for the purpose of a highly targeted operation .

负利率的概念似乎骇人听闻想象一下，我们存自己的钱还必须付费！

The idea seems shocking imagine having to pay to save your own money !

国有企业真的比量化宽松或者低利率乃至负利率糟糕得多吗？

Are they really so much worse than QE and low or negative interest rates ?

但是，欧洲的负利率已经开始侵蚀本已谨慎的银行业的利润。

But negative rates in Europe are biting into the margins of already cautious banks .

伴随物价指数的上涨，我国进入了存款负利率时期。

As the price is going up , China enters the period of negative interest rate .

低利率是一回事，负利率则是完全不同的另一回事。

Low interest rates are one thing , but negative interest rates are something else entirely .

增长与调控从时间上讲是相互分离的两个过程，低利率与负利率是这个过程的副产品，客观上起到了缓解信贷偿还压力和减少宏观经济风险的目的。

In this process , inflation and interest rate control are the by-products of economy growth .

其特点是整个欧洲大陆出现负利率和负债券收益率。

Its hallmark is the advance of negative interest rates and negative bond yields across the continent .

首先，它们可以越过零利率的边界，实施负利率。

For starters , they can drive right through the zero boundary and impose negative interest rates .

在瑞典率先引入负利率之后，英国可能很快也将效仿。

First there were negative interest rates in Sweden ; soon they might come to the UK .

更换新钞票将被课税税率至少要高到相当于负利率的水平。

Renewal would be taxed at a rate at least as high as the interest rate is negative .

大型新兴经济体中，只有巴西和南非的实际利率还有意义，其余大多为负利率。

Only Brazil and South Africa among major emerging economies have significant real rates ; many are negative .

我曾听说有人提出这样的理由：电脑可能无法处理负利率的情况。

I have heard the case made that computers would probably not be able to cope with negative interest rates .

一些央行行长还辩称，负利率将扼杀货币市场基金的业务模式。

Some central bankers have also argued that negative interest rates would kill the business model of money market funds .

之后，银行再一次向她介绍了利率：-0.0172%&低于零的负利率。

And then she was told again about her interest rate . It was -0.0172 percent & less than zero .

艰难时期需要孤注一掷的大胆行动——但全体转向负利率，可能导致局势恶化、而不是好转。

Difficult times demand desperate action - but a wholesale shift to negative interest rates risks making things worse not better .

政策制定者最初担心，负利率可能导致市场失调，但这种情况迄今没有出现。

Policy makers previously worried that negative interest rates might cause markets to malfunction , but that has not happened so far .

当时也出现负利率，经济增长更创15年来新高，资产泡沫也正在形成。

At that time , negative interest rate also occurred while the economic growth was at15-year high and asset bubble was forming .

第一，利率管制、过高的中央银行存贷款利率和金融机构实际负利率构成了利率政策运行环境的三个主要标准化事实；

First , interest rate control , over-high central bank rates and negative real deposit and lending rates are three stylized facts .

汇丰本周已致函将受到影响的银行，并将于8月1日起实施负利率。

HSBC this week wrote to the banks that will be affected and will introduce the negative interest rates on August 1 .

美国的实际利率水平本来就远低于英国或欧元区实际上，存在明显的负利率。

Real interest rates are already much lower in the US than in the UK or eurozone indeed , they are heavily negative .