| 单词 | dear money |
| 释义 | dear money High interest rates, which make it expensive to borrow. How high rates need be to constitute dear money depends on the rate of inflation: only interest rates greater than the rate of inflation make borrowing expensive in real terms. If the central bank is using monetary policy to reduce aggregate demand, dear money and tight money, or difficulty in gaining credit, tend to go together. During a financial panic, however, a central bank may seek to make money dear but not tight: the aim is to induce lenders not to increase precautionary balances or call in debts, as holding cash is expensive, while they remain confident that they will be able to obtain credit if they really need it. |
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