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But that would have meant moving interest rates down to 1% or below.
Some of their students are impressive: thoughtful, intelligent young people with a moving interest in great moral questions.
As chairman of the Federal Reserve, he can alter the course of the economy by moving interest rates up and down.
The release of the Fed minutes sent debt prices lower because some of the central bank's members said it might need to start moving interest rates higher this year to guard against inflation.
Yet, having done nothing since last moving interest rates in March 2009, this week sees the MPC meet amid City suggestions that its members may finally need to limber up for a run-out.
In an extreme case that deflation risks build even with interest rates cut to zero, the RBA has signalled that it would consider copying the US Federal Reserve and other central banks by embarking on quantitative easing or moving interest rates below zero.
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They appear to move interest rates, for example.
THE Bank of England rarely moves interest rates in December.
The governor, Nils Bernstein, admits that he moves interest rates two hours after the ECB does so.
Federal Reserve policy makers will meet on Wednesday to decide whether to move interest rates.
Though asset purchases continue, mere talk of tightening has helped move interest rates up substantially, pinching borrowers.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com