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    #1

    if rates were to climb back up

    Dear all,

    How should I understand the underlined?

    Thanks in advance.

    Eartha

    A moderate recovery is underway, but the recession will leave lasting traces. France is in an intermediate position amongst OECD countries in terms of the impact of the crisis. Various factors, including an appropriate macroeconomic policy response, enabled the economy to withstand the shock. Yet the financial and global nature of the recession would suggest that the recovery is likely to be moderate, with GDP growth rebounding gradually to reach 2% in 2012. This pace will doubtless be insufficient to bring joblessness down quickly. Export performance improved in 2010, and private investment should take over as the prime engine of growth. Although there is a housing shortage in some strained areas, the property market would probably be vulnerable if rates were to climb back up. Against the backdrop of bond-market turmoil in the euro area, the highest priorities are fiscal consolidation, raising employment rates and spurring productive supply.

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    #2

    Re: if rates were to climb back up

    It means 'if rates were to increase to or near where they were prior to the recession.'

    It is not clear to me what 'rates' it is referring to but I suspect it is either mortgage rates or interest rates since the text refers to the property market. It could also mean the rate of GDP growth

  1. 5jj's Avatar
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    #3

    Re: if rates were to climb back up

    Quote Originally Posted by Gillnetter View Post
    This clearly refers to interest rates - the money charged on loans. Do you understand mortgage rates and interest rates to be different things?
    In Britain, the interest rates on mortgages are often different from interest rates on other loans.

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    #4

    Re: if rates were to climb back up

    But they're all related, right? In the US the Federal Reserve sets its "prime rate" at which it loans to commercial banks. All interest rates follow this prime rate.

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    #5

    Re: if rates were to climb back up

    Quote Originally Posted by SoothingDave View Post
    But they're all related, right? In the US the Federal Reserve sets its "prime rate" at which it loans to commercial banks. All interest rates follow this prime rate.
    I was just suggesting that it is not necessarily odd to speak of "either mortgage rates (specifically) or interest rates (in general)"

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