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Econ記者Newsletter，就可以不定期收到經濟學術及經濟時事討論文章。
💥新產品💥 Econ記者新設 Telegram Channel 同大家分享宏觀經濟新聞。快啲入去Follow!!
