M3 rose by 11.5% in the year to January, nearly three times as fast as the 4% or so rate of nominal GDP growth that is consistent with 2% inflation.
M3比1月份上升了11.5% %,这差不多是在名义GDP大约以4%增长且通胀应维持在2%的时候的三倍速度。
Meanwhile prime lending rates, at 7.47%, remain bizarrely divorced from nominal GDP growth, which stood at over 22% year on year in the second quarter.
同时银行的最低贷款利率为7.47 %,而名义GDP与去年二季度环比增长超过22 %,两者之间有天壤之别。
First there is normally a rough relationship between yields, currently 3.3% for ten-year Treasury bonds, and nominal GDP growth projected at around 5% a year.
第一是因为名义上在国债收益率与GDP增长率之间存在一个粗略的关系:如果GDP一年计划增长5%的话,那么10年期的国债收益率应该在3.3%左右。
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