Group 1: Interest Rate Nature and Importance - The essence of interest rates is the return on capital, influenced by time value and risk compensation[9] - A reasonable interest rate comparison is essential for effective resource allocation and monetary policy transmission[12] - Historical examples of unreasonable interest rate comparisons include deposit rates exceeding loan rates and abnormal yield curves in bond markets[13] Group 2: Central Bank's Focus on Interest Rate Relationships - The central bank emphasizes five key relationships to enhance monetary policy transmission: policy rates vs market rates, asset vs liability rates, different asset yields, term structure of rates, and risk-adjusted rates[36] - The central bank aims to transition from quantity-based to price-based monetary policy, improving transmission efficiency and directing resources to the real economy[39] Group 3: Asset Allocation and Rate Comparisons - Investors should consider interest rate comparisons to assess asset allocation value and attractiveness[40] - Significant differences between stock dividend yields and government bond yields can indicate undervaluation of equities[43] - Low rental yields in real estate compared to risk-free rates suggest a lack of attractiveness for property investments[26] Group 4: Risk Factors - Risks include domestic economic recovery falling short of expectations, global interest rate trends deviating from forecasts, and unexpected geopolitical risks[46]