Sentences with phrase «pushing nominal interest»

Low inflation and the impossibility of pushing nominal interest rates significantly below zero meant that there was little scope for lowering real interest rates and easing credit conditions by conventional means.

Not exact matches

As I noted this past January in Sixteen Cents: Pushing the Unstable Limits of Monetary Policy, a collapse in short - term yields to nearly zero is a predictable outcome of QE2, based on the very robust historical relationship between short - term interest rates and the amount of cash and bank reserves (monetary base) that people are willing to hold per dollar of nominal GDP: