Now that interest rates are at, or near, their peak, attention has turned to how long they will stay elevated. Central bankers, wary of being complacent on inflation, have united behind a mantra of “higher for longer”. Huw Pill, the Bank of England’s chief economist, even chose to compare the UK’s likely rate path to Cape Town’s Table Mountain, with its high, flat top. That reality — reinforced by Friday’s strong US jobs data — is unnerving investors. In recent weeks, stock markets have tumbled, and long-term bond yields have soared.
既然利率已经处于峰值水平，或者离峰值水平不远了，人们就把注意力转向了利率会在高位上保持多久。央行官员不敢在通胀上掉以轻心，因此统一口径，声称利率“会在更高水平上保持更长时间”。英国央行(BoE)首席manbetx20客户端下载 学家休•皮尔(Huw Pill)甚至将英国可能的利率路径比作开普敦的“桌山”(Table Mountain)，因为后者有着又高、又平的山顶。这种现实状况——美国周五发布的强劲就业数据加深了其中的意味——让投资者不安。近几周来，股市大跌，长期国债收益率飙升。