real interest rate
Economic term: the nominal interest rate adjusted for inflation, reflecting the true cost of borrowing or return on savings.
When the real interest rate becomes negative, the real value of savings erodes.
The central bank is closely watching trends in the real interest rate.
名目利子率 is the nominal interest rate before adjusting for inflation, while 実質利子率 is the inflation-adjusted rate.
Compound of 実質 (real, actual) + 利子率 (interest rate). A straightforward economic term.