| 单词 | real interest rate |
| 释义 | real interest rate The real return on loans. This is the money return, adjusted for inflation. If the nominal interest rate is 100i per cent and the rate of inflation is 100p per cent, the real rate of interest of 100r per cent is given by (1 + r) = (1 + i)/(1 + p). For low interest and inflation rates, the approximation r≈i - p is fairly accurate. At times when the rate of inflation is changing, the real interest rate can be measured on a forward- or a backward-looking basis. The backward-looking basis compares current interest rates with inflation over some recent period; the forward-looking rate compares interest rates with expected inflation over some future period. The forward-looking concept is more relevant to decision-taking, but depends on a model for estimating expectations, so the backward-looking measure, which can be based on published statistics, is more frequently used. |
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