Bad news is met with central bank policy easing, which keeps the asset reflation carousel going round. 对于坏消息,央行用放松货币政策来应对,这让资产再膨胀的螺旋保持着转动。
Government bond yields are the risk-free rate that price all risk assets, and negative interest rates will continue to incite asset reflation. 国债收益率是无风险利率,该利率确定了所有风险资产的价格,而负利率将继续助长资产再膨胀。
Keynes-the progenitor of both monetary and fiscal reflation as antidotes to debt deflation-would be smiling. The government tightened its monetary policy to reduce inflation. 用货币和财政通货再膨胀矫正债务紧缩的鼻祖&凯恩斯对此会很满意。政府紧缩其货币政策以降低通膨。
But even as it looks like the Fed, at least, has set its inflation target to one side to focus on jobs, there are plenty of deflationary forces which could upset an investment strategy based on the reflation of the world economy. 然而,尽管美联储看上去至少已把通胀目标搁置一边,转而把注意力放在就业上面,但还有很多通缩因素可能会破坏基于全球经济通货再膨胀的投资战略。
Until last year policymakers could always produce a new rabbit from their hat to trigger asset reflation and economic recovery. 直到去年,政策制定者还总能像变戏法一样,从自己的帽子里不停地变出新的兔子,以刺激资产再膨胀和经济复苏。
Likewise aggressive Japanese reflation might have the greater impact on domestic demand. 同样,日本如今激进的通货再膨胀举措可能对内需影响更大。
Also, Japan may benefit from some inflation if Japanese-consumer psychology finally shifts to reflation from deflation. 此外,如果日本消费者心理可以从通缩改变为再次通胀,日本很可能从中受益。
In the developed world, the balance of social and political risk is driving policy one way, to reflation, by any means possible. 在发达世界,社会和政治风险的平衡正推动政策尽一切可能朝通货再膨胀的方向发展。
Both the quick-algorithm of radio wave reflation are presented in the paper. 本文提出了电波折射误差快速算法及修正。
The great reflation will come with a nasty debt hangover. 大规模的通货再膨胀将带来令人讨厌的债务遗留问题。
Global co-ordination in the recovery is inevitably harder than co-ordinated reflation at the peak of the crisis because the necessary reforms are more difficult to achieve and sustain. 为推动经济复苏而进行全球协作,必然比在危机最严重之时协调推动通货再膨胀更加困难,因为前者所需的改革更难以实现和维系。
But asset reflation was "likely to be a more important driver in 2010, suggesting more gradual and more modest equity price appreciation". 但资产再膨胀“可能会是2010年更重要的推动因素,这意味着股价将呈现比较逐渐及小幅的上涨”。
In general, one of the commonest problems of government reflation is that the benefits leak out beyond your borders because the programme sucks in imports. 总的来说,政府通货再膨胀政策所面临的最常见问题是通过进口而导致该政策产生的福利流失到国外。