lower for longer interest rates

[backtoschool]

Пожалуйста, помогите перевести.

lower for longer interest rates

2H20

pre-provision earnings to absorb them

Выражения встречаются в контексте:

A downgrade could also result if there is evidence of undue franchise and market share erosion in the core businesses relative to peers, or if the bank does not progress with the restructuring targets set out in 2019. Rating pressure would also arise if deteriorating economic conditions such as lower for longer interest rates, significant deterioration in DB's clients' financial health, subdued primary capital markets activity, persist into 2H20 as this would make it more difficult for the bank to return to adequate profitability. Asset quality is a relative rating strength, and a sharp rise in credit losses could pressure ratings because of the low available pre-provision earnings to absorb them.

Понижение рейтинга также может быть обосновано свидетельством существенного уменьшения франшизы и доли на рынке в основных направлениях деятельности по сравнению с его аналогичными организациями, или если банк не продемонстрирует положительную динамику в достижении целей реструктуризации, намеченных в 2019 году. Рейтинговое давление также может возникнуть, если ухудшающиеся экономические условия, такие как lower for longer interest rates , существенное ухудшение финансового состояния клиентов DB , ​​ослабление активности первичных рынков капитала, сохранятся в 2H20 , так как это затруднит для банка возврат к достаточной рентабельности. Качество активов является относительной сильной стороной рейтинга, и резкий рост кредитных потерь может оказать давление на рейтинги из-за низкой доступной прибыли low available pre-provision earnings to absorb them.

Заранее спасибо

[Amor 71]

lower for longer  - это устоявшееся выражение. Не уверен, что в русском оно практикуется. А по смыслу "низкая учетная ставка для удлинения экономического цикла". Считается рискованной политикой финансовых регуляторов.

[d.]

2H20 - второе полугодие 2020 года

[d.]

pre-provision earnings - прибыль до формирования резервов

[johnstephenson]

'lower-for-longer interest rates' = interest rates which are lower and are in force for a longer period of time than usual.

[Amor 71]

Not exactly. If so, it should say "low-for-long". lower-for-longer policy is lowering rate so the economy can stay afloat for a longer period of time. Sure, the rate stays low during that time, but for a sake of long running economy. So "longer" here means long lasting economy, not interest rate.

[johnstephenson]

** If so, it should say "low-for-long" **

No, you'd never say "low-for-long" as 'long' is never used as an adverb to mean 'for a long time'. That's why people don't say, for example, "I was there long"; it's always "I was there (for) a long time".

** lower-for-longer policy is lowering ...... So "longer" here means long-lasting economy, not interest rate **

OK, I'll take your word for that. Looking on Google, it looks like a set expression which has become part of economists' jargon over the past 4-5 years.

[Amor 71]

John, I can't disagree with you, but it is common something like "it took so long"? It is obvious they mean time, like in my example "low-for-long". Am I wrong?

[johnstephenson]

Amor 71: That's partly fair comment. "so long" (as well as "how long", "too long" and other terms, all referring to time) is certainly used, and "for long" is used in some constructions, such as "I wasn't there for long" (negative) -- but you wouldn't normally say "I was there for long" (positive), or "interest rates are low for long" (positive); it would be "for a long time/for a long period". Strangely, you could use it in a question though ("Were interest rates low for long?"). I can't really explain it, but imho "low for long" in the example you give at 20:35 just doesn't sound English as a positive statement. It may be OK in a set expression which has been adopted as jargon, though.

In fact the asker's question was about "lower for longer", so I'll stop here before I bore everyone!

[Amor 71]

Thanks, John. I just would like to mention, that there is nothing positive about "lower for longer interest rates". That's why "Rating pressure would also arise".