The global economy has moved away from a deflationary environment and a 12-year low for equities in the first quarter to a state of stabilising output, recovering optimism, and booming asset markets supported by ultra-easy US monetary policy and a cheaper dollar. 全球经济已摆脱通货紧缩的环境和第一季度的12年股市低点,全球经济生产已经企稳,乐观情绪正在恢复,超宽松的美国货币政策和美元贬值支持了资产市场的繁荣。
Can we just say, then, that as there are both inflationary and deflationary fears, policy is on the right lines and we are enjoying rough price stability? 那么,我们是否就可以说,由于通胀和通缩忧虑同时存在,因此目前的货币政策得当、价格保持着大体稳定呢?
If the US unilaterally adjusts its balance of payments – with devaluation or tariffs or deflationary macroeconomic policy – the situation could worsen. 如果美国利用本币贬值、关税或具有通缩效应的宏观经济政策,单方面调整其收支平衡,那么情况可能会恶化。
China deflationary period, monetary policy can make a difference. 中国通货紧缩时期,货币政策完全可以有所作为。
China is shrugging off deflationary pressure and the country's policy-makers should create a better policy mix to cope with the new economic environment, some experts suggest. 一些专家建议:中国正在摆脱通货紧缩的压力,因此,决策者应创造更好的政策搭配,以应对新的经济环境。
Of course, in a deflationary situation, generating inflationary pressure is precisely what the policy is trying to accomplish. 当然,在通缩情况下,产生通胀压力正是宽松政策力图实现的目标。
Restraining the Deflationary Trend by Structurally Releasing Monetary Policy 结构性松动货币抑制通货紧缩趋势