CFA二级 Study notes 2 (财务报表分析) P67 Q19

财务, direct, usually, between, discount

P67 Q19
本题课后解答给出的解释是:
the discount rate is increasing, but the inflation rate is deceasing.
There is usually a direct relationship between the discount rate and the inflation rate.

这道试题我没有看懂
另外,我想问问这里表达的 direct relationship 是指什么关系呢
谢谢老师

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发表于 2013-8-18 14:32 | 只看该作者

是指如果inflation上升,那么discount rate也会上升,他们是同向关系,因为现金流是nominal的话,折现率也要用nominal

nominal rate = (约等于) real rate + inflation rate

所以discount rate 与 inflation rate 成同向关系, inflation增大则discount rate 增大,inflation减少则discount rate减少

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