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At the time, short-term interest rates were only about 5 percent.
At the start of the year, short-term interest rates were 19 percent.
This concern seems clear in current short-term interest rate levels.
In response to both reports, short-term interest rates rose further.
Short-term interest rates are below where they were in July.
That step, he said, is another increase in short-term interest rates.
That is also an important reason, he said, why short-term interest rates remain high.
As a result, they have already raised short-term interest rates five times this year.
Short-term interest rates also moved slightly lower but they are still higher than a year ago.
More money in the system also leads to lower short-term interest rates.
And the government has pushed short-term interest rates to 15%.
In the second half of the year I see short-term interest rates rising.
They reflected the increase in short-term interest rates last week.
They are doing that by pushing up short-term interest rates.
Not surprisingly, short-term interest rates moved higher on the report.
Short-term interest rates also fell yesterday, but much less than in recent days.
Indeed, short-term interest rates have fallen to levels not seen since the early 1970's.
That means short-term interest rates would be higher than long-term ones.
Short-term interest rates are below inflation for the first time since 1980.
The Fed has left its short-term interest rate target at 3 percent for a year.
He added, "This action is expected to be associated with a small increase in short-term interest rates."
Some analysts expect the central bank's next move will be to increase short-term interest rates.
"The biggest thing for gold has been the increase in short-term interest rates," he said.
In the secondary market, short-term interest rates were little changed yesterday.
The gap between long- and short-term interest rates is wide.