Low rates make risky assets look cheap, so policymakers may hold off from raising them for too long, for fear of derailing a recovery based on rising asset values.

• 低利率让风险资产看起来非常便宜，所以政策的制定者可能会延迟提高利率太久，避免基于提高资产估价的恢复没有按照预定方式发展。