Its own earlier experience of monetary stimulus since 1995, when it more than doubled the monetary base with little discernible effect on nominal growth, has left it unimpressed.

自从1995年后它拥有的货币刺激经验并没有留下可借鉴的东西- - -当它增加基础货币超过一倍的量随后名义增长并没有变化。

youdao

If businesses are worried about the future (ah those animal spirits), why won't ANY form of attempted stimulus-fiscal or monetary-be dominated by nominal effects rather than real effects?

如果企业对未来担忧(可叹那些动物精神)，为什么那些企图对财政或货币方向进行的刺激，不受名义影响支配而是由实际影响支配呢？

youdao

The purpose of stimulus is to increase demand (and thereby nominal GDP) over what it would have otherwise have been.

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The big fiscal stimulus enacted this month by Mr Abe will get Japan part way towards his 3 per cent nominal growth target, but advisers to the government say the BoJ needs to pull its weight too.

CNN: Bank of Japan bows to inflation pressure