一些国家紧缩货币政策以避免通货膨胀。
最近的牛市显示我们正在接近紧缩的底部，而且低估了大陆市场的通货膨胀前景引起的反弹。
The bull case is that we are near the end of tightening and that undervalued mainland equities will rebound on an improving inflation outlook.
硬着陆“被定义为为一种强有力的货币和财政紧缩政策，旨在遏制通货膨胀——即便以增长为代价也在所不惜。”
It defines a hard landing as a strong monetary and fiscal tightening, designed to curb inflation even at some cost to growth.
那么，方法是提高通货膨胀，这显然解决了债务紧缩问题。
The way to get there, then, is to raise inflation, which obviously addresses the debt deflation concerns.
以这种速度降下去，人们担心目前还在5%左右的通货膨胀将有可能转变为紧缩。
With remarkable speed, worries have shifted from inflation, which is still around 5%, to deflation.
尽管如此，欧洲中央银行仍摆出冠冕堂皇的理由实施紧缩政策，首先，他们声称把侧重点放在了标题通货膨胀利率上而不是核心措施的处理。
Nevertheless, the ECB has some sound reasons for tightening policy. First, it places more weight on the headline rate of inflation than on the core measure.
由于供应紧缩，今年主食的批发价格上涨超过了60%，加速了通货膨胀并紧缩了家庭的预算。
Wholesale prices for the staple have climbed by more than 60% this year because of tight supplies; that's fueling inflation and squeezing household budgets.
紧缩信贷是平息通货膨胀的必要手段。
你更担心通货膨胀还是通货紧缩？
它们可能在面对政策压力或是一个明确的决定时犹豫，而这个决定错误的倒向通货膨胀这边而不是通货紧缩。
They may hesitate in the face of political pressure or an explicit decision to err on the side of inflation rather than deflation.
相反，当通货膨胀随着时间降低而且有可能走向事实上的通货紧缩时，我们陷入了更深的困境。
On the contrary, as inflation falls over time and possibly goes to actual deflation, we sink deeper into the trap.
如果他的分析正确，那么真正对黄金市场产生影响的就是美元的长期走势，而非通货膨胀或通胀紧缩。
If he is correct, it is the potential longer-term weakening of the dollar that is the real issue for the gold market, not inflation or deflation.
不过，对于高公债和私人部门的债务紧缩问题，通货膨胀却并非一个廉价的解决方案。
But inflation is not a cheap solution to high public debt and the debt-deflation problems of the private sector.
正常的情况下，尤其对当下，这种现象是不足为惧的：因为少量的通货膨胀好过于少量的通货紧缩。
Normally, and especially now, this is not a concern; a little bit of inflation is better than a little bit of deflation.
伴随着失业率10.2%和众多的备用能量，美国仍然面对着更大的通货紧缩的威胁而不是通货膨胀。
With a jobless rate of 10.2% and oodles of idle capacity, America still faces a bigger threat from deflation than from inflation.
瑞典里斯克银行在1931年至1937年采用这一目标制来防止其脱离黄金标准后所产生的通货膨胀和通货紧缩。
Sweden’s Riksbank did it from 1931 to 1937 as a way of warding off both inflation and deflation after leaving the gold standard.
通货紧缩也比通货膨胀难以应付。
自从日本1999年进入通货紧缩时期，日本银行一直以来就坚决反对设定通货膨胀的目标，一方面是不想被评估，另外也担心如果没有完成目标，这将给自己带来尴尬的局面。
Since the start of Japan’s deflationary era in 1999, the BoJ has stoutly resisted calls to set an inflation target against which it can be judged—and by which it can be embarrassed if it misses.
然而，现在希腊与德国拥有相同的货币，降低希腊相对成本的唯一途径是通过某种德国通货膨胀与希腊通货紧缩相结合的办法。
Now that Greece and Germany share the same currency, however, the only way to reduce Greek relative costs is through some combination of German inflation and Greek deflation.
不过，还有其他可能：比如复苏停止，或是通货膨胀进一步放缓，出现通货紧缩(各经济领域出现价格大幅下滑)的威胁。
But there are other scenarios: if the recovery falters, or if inflation slows much further and a threat arises of deflation, a debilitating fall in prices across the economy.
欧洲央行说，已经避免了通货膨胀和通货紧缩：由16个国家组成的欧元区的年通货膨胀率约为1%。
The European Central Bank says it has avoided both inflation and deflation: Annual inflation in the 16-nation euro zone is running at about 1%.
通货紧缩已经变成比通货膨胀更危险的敌人；随着很多国家的利率都达到或接近于零，各国央行已经不得不另寻其它政策工具。
Deflation has become a more dangerous enemy than inflation; with interest rates in many countries at or close to zero, central Banks have had to reach for other tools.
从大多数发达国家目前所处的通货紧缩环境来看，这些也不意味高通货膨胀即将爆发。
Nor does a new outbreak of high inflation seem imminent, given the pervasive deflationary conditions in most of the rich world.
不过，同样重要的是我们需要防止通货紧缩，甚至需要防止通货膨胀太低。
Equally important, however, we need to steer clear of deflation, or even excessively low inflation.
如果老龄化使得通货紧缩泛滥，修补通货膨胀目标将无济于事。
If ageing has helped make deflation endemic, tinkering with inflation targets will make little difference.
在通货紧缩情况下名义价值的上升表示其真正价值也有一个更大的上升，所以我认为无论是在通货膨胀或是在通货紧缩情况下，实质的黄金价格都会上升。
A rise in nominal values in deflation represents an ever greater rise in real values, so I think gold's price ascent in real terms will be nearly identical in inflation or deflation.
人们可以通过看黄金价格与日元的比对衡量市场通货膨胀还是通货紧缩（见图表）。
One could see gold priced in yen as a measure of the market's views on the deflation/inflation question (see chart).
欧美仍在担心通货紧缩之时，亚洲新兴市场正开始考虑如何应对截然相反的问题：通货膨胀。
While the West still worries about the ravages of deflation, emerging markets in Asia are beginning to contemplate what to do about the opposite problem: inflation.
鉴于已经很低的通货膨胀指数，这可能会煽起通货紧缩的恐惧。
That may fan fears of deflation given the already low readings on inflation.
鉴于已经很低的通货膨胀指数，这可能会煽起通货紧缩的恐惧。
That may fan fears of deflation given the already low readings on inflation.
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