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While hotel occupancy rates were high in 2000, some market studies noted a slackening of the occupancy rate toward the end of the year.
The economy grew at a 7percentt annual rate toward the end of last year, a rate most economists deem unsustainable.
Without trying any short-term fix, the authorities would jog the rate toward its long-term benchmark in an unmistakably concerted fashion.
Of course, a very low natural rate of interest is the result of excess saving; the central bank's goal is to move its policy rate toward the natural rate in order to mobilise that saving and clear markets.
Unlike the Bank of England, which is gradually moving its key rate toward zero, and the Federal Reserve, which has already reduced its rate to about zero, the European bank is still debating internally whether it can afford to go to zero.
Mortgage brokers and lenders say the loans most in demand are the "5/1" and "7/1," in which the initial interest rate is fixed for the first five or seven years — after which many homeowners typically think about selling or refinancing anyway — then adjusted annually at a capped rate toward a maximum level.
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In 1999, the central bank started driving short-term interest rates toward zero.
Still, governments need to consider how they will end fiscal stimulus measures and raise interest rates toward normal levels, the report said.
Vietnam, Taiwan, New Zealand and Australia also have started to return rates toward more normal levels, in Australia's case with a string of increases that started last October.
A president's approval rating toward the end of his third year, therefore, has been a decent (although imperfect) predictor of his chances of victory.
These twin forces rise at exponential rates toward infinite capability and zero cost.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com