Short-term interest rates remained stable at low levels reflecting the Bank of Japan's provision of ample liquidity, and credit spreads on corporate bonds were generally on a decreasing trend in the first half of 2010 given investors' steady demand for investment.
Recently, when the military action against Iraq began on March 20(Japan time) and the prices of bank stocks plunged, short-term interest rates remained stable at an extremely low level and the liquidity concern of financial institutions was thus dispelled.
The Bank's policy commitment--that it will continue the current framework of monetary easing until the CPI records a year-on-year increase of zero percent or more on a sustainable basis--leads market participants to believe that short-term interest rates will continue to be zero at least until the actual inflation rate turns positive.
Even when there were various shocks due to problems in the domestic financial system, the terrorist attacks in the United States, and the military action against Iraq, a liquidity shortage did not materialize in the money market, and short-term interest rates have continued to be virtually zero, including longer-term rates such as those on term instruments.
While short-term interest rates have declined from the 8 percent level in early 1991 to virtually zero percent currently, during the same period money supply has increased only 25 percent, that is, 2.5 percent on an annualized basis, and is now growing at around 3 percent on a year-on-year basis.
短期金利はもちろん、。
Short term profits of course.
同時に、短期金利は低いままである。
At the same time, short-term interest rates remain low.
実質短期金利は、ゼロ%近傍である。
The real short-term interest rate is in the neighborhood of zero.
ユーロ圏や日本の短期金利はいまだマイナス圏だ。
Short-term interest rates in Europe and Japan are still negative.
この結果、短期金利はゼロ%近くまで低下しています。
As a result, short-term interest rates have declined to almost zero percent.
最近の金融情勢をみると、短期金利は、1月はやや低下した。
Taking a look at the recent financial situation, short-term interest rates dropped slightly in January.
最近の金融情勢をみると、短期金利は、6月は横ばいで推移した。
Taking a look at the recent financial situations, short-term interest rates remained at the same level in June.
最近の金融情勢をみると、短期金利は、9月は横ばいで推移した。
Taking a look at the recent financial situations, short-term interest rates remained at the same level in September.
この結果、日本の短期金利は現在世界で最も低い水準となっています。
As a result, short-term interest rates in Japan are now at the lowest levels in the world.
最近の金融情勢をみると、短期金利は、10月から11月上旬にかけて上昇した。
Taking a look at the recent financial situation, short-term interest rates rose from October to early November.
最近の金融情勢をみると、短期金利は、2月から3月上旬にかけて横ばいで推移した。
Taking a look at the recent financial situation, short-term interest rates stayed the same from February to early March.
最近の金融情勢をみると、短期金利は、5月から6月上旬にかけておおむね横ばいで推移した。
Taking a look at the recent financial situation, short-term interest rates moved almost sideways from May to early June.
先進国では、短期金利はゼロ近くに低下し、中央銀行のバランスシートは大幅に拡大した。
In developed countries, short-term interest rates declined to close to zero and central bank balance sheets expanded enormously.
新しい短期金利は16.5%となり、それはトルコのインフレ率を6%も上回った水準となっている。
The new interest rate of 16.5% is almost six percentage points above Turkey's rate of inflation.
先進国では短期金利は事実上ゼロ%となっているほか、長期金利も歴史的な低水準になっています。
Looking at the advanced economies, short-term interest rates are virtually zero and long-term rates are at historically low levels.
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