虽然日本央行在早些时候预计将有三年的物价下跌，但分析家并未预期如果通缩压力继续存在，央行会调高利率。

Analysts did not expect the BoJ, which had earlier predicted three years of falling prices, to move on rates for as long as deflationary pressures continue.

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虽然日本央行预计日本经济可能在第一季度摆脱放缓态势，但持续的通缩可能会阻止加息，估计最早的加息时间是2013年。

While the BOJ expects Japan's slowdown to end this quarter, continued deflation will probably prevent it from increasing interest rates until 2013 at the earliest.

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虽然这些疯狂的实验让日本央行持有了三分之一的日本国债，通货紧缩仍是一大祸害。

But though these wild experiments have left the central bank holding a third of the outstanding JGB stock, deflation remains a scourge.

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