呢個係英倫銀行網誌Bank Underground 的最新短篇文章嘅題目,而以下就係經該行研究員John Lewis整理嘅英國利實質利率五年移動平均圖:

圖中有三種利率,分別係藍色嘅英行銀行利率、紅色嘅英國國債孳息同綠色嘅英國按揭利率,全部都係扣除通脹率後嘅實質利率。

咁又點喎
Lewis利用唔同嘅利率平均數,計出現時嘅英國利率同「正常」水平有大差距。

上圖藍色鑽石形就係現水平,可以見到係低過以幾個長期平均計出黎嘅「正常」水平。

出處:

Bitesize: UK real interest rates over the past three centuries

John Lewis How low are UK real interest rates by historical standards? Using the Bank’s Millennium of Macroeconomic Data, I compute real bank rate, mortgage rates, and 10-year government bond yields over time. The lines show the five year moving averages of the ex post real interest rate.


Also published on Medium.

登記本網Newsletter,就可以不定期收到專業嘅經濟學術及經濟時事討論

Any Comments?

This site uses Akismet to reduce spam. Learn how your comment data is processed.