Other things being equal (such as roughly similar real interestrates across countries) nominalinterestrates should be higher incountries with higher inflation rates.
在其他条件(比如相关真实利率)保持不变情况下，名义利率在高通胀国应更高。
2
This means that unless investors are repeatedly surprised, inflation will lead to higher nominalinterestrates as debt is refinanced, and in turn to an unchanged real debt.
On the surface, this looks like 2003 and 2004 when the previous housing, credit, commodity and equity bubbles started to inflate, helped by low nominalinterestrates and a lack of inflation.