One cause of the stickiness in long-term rates is the widespread belief that the economy will resume its productivity-driven boom in the next few years.

Russian living standards have worsened overall in the post-Cold War years, although the economy has resumed growth since 1999.

This is the ninth rate reduction since 1991, when the discount rate was 6 percent, and the economy has still not resumed its growth.

Others are predicting a long period of tepid growth, with the possibility that the economy could resume shrinking.

Since Mr. Suharto's ouster, the country's shattered economy has barely resumed functioning.

As the economy resumes its brisk growth, the first stock market reaction is likely to be positive because strong business helps corporate profits.

Everyone wants to know when the economy will resume robust growth.

Although Hong Kong's stock market collapsed in 1973, its economy resumed its upward trend later in the decade.

For example, federal revenues continued to fall in 2002 and 2003, long after the economy resumed growth in 2001.

The economy resumed upward growth after a period in the early 1980s of languishing.