欧洲的消费者(也就是所有购物的欧洲人)是全球化的最大赢家,全球化让进口变得便宜,抑制通货膨胀,保持低利率。
European consumers (ie, all Europeans when they are shopping) are big winners from globalisation, which has delivered cheap imports, held down inflation and kept interest rates low.
“如果你问他利率的快速调整会怎样影响经济,或者是欧洲持续的通货膨胀同美国比较是怎样的,他都知道,”同领域的一位经济学家说。
“If you asked him how quickly changes in interest rates affect each economy, or how persistent inflation in Europe is compared to America, he’d know,” says an economist who works in the same field.
“如果你问他利率的快速调整会怎样影响经济,或者是欧洲持续的通货膨胀同美国比较是怎样的,他都知道,”同领域的一位经济学家说。
"If you asked him how quickly changes in interest rates affect each economy, or how persistent inflation in Europe is compared to America, he'd know," says an economist who works in the same field.
欧元区并没有出现通货膨胀的迹象并且边缘经济依然脆弱,因此欧洲央行不应该提高利率。
In the euro area, where there is scant evidence of wage inflation and extreme weakness in the periphery economies, the ECB should not raise rates.
欧洲央行将在15个欧元区国家中维持主导利率4.25%不变,以对付通货膨胀。
The ECB left its key interest rate unchanged at 4.25% as the 15-nation euro zone continues to battle inflation.
欧洲央行行长特里谢说,欧洲萧条的经济现状使得低利率引发通货膨胀的风险大为降低。
ECB President Jean-Claude Trichet says Europe's anemic economic performance has greatly reduced any risk that lower interest rates will kindle inflation.
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.
随着其他商品价格纷纷推高总体通货膨胀,欧洲央行暗示有意提高利率。
With other commodity prices also driving up headline inflation, the European Central Bank signalled that it was on the brink of raising interest rates.
事实上,今年4月,尽管在许多观察者看来基本通货膨胀率(如果存在的话)明显过低,欧洲央行却开始提高利率。
Last April, in fact, the European Central Bank began raising interest rates, even though it was obvious to most observers that underlying inflation was, if anything, too low.
降低利率能使欧洲央行与其他主要银行步调一致,但是迄今为止,Trichet更愿意坚决地反通货膨胀,尽管在过去的三周,市场的不确定性因素已经爆发了。
A cut would bring the bank in line with its major peers, but Trichet so far has preferred to stand firm against inflation despite the uncertainty that has exploded in markets in the past three weeks.
美国、欧洲和日本所采用的超低利率可以抵制通货膨胀和资产泡沫,但这对新兴市场来说较难实行。
Unusually low interest rates in the U. S. , Europe and Japan make the job of resisting inflation and bubbles harder for emerging markets.
欧洲中央银行将提高存款利率以试图降低通货膨胀。
The European Central Bank (ECB) is expected to raise interest rates later in an attempt to cool inflation.
与此同时,2011年,欧洲央行官员们认为要担忧通货膨胀并提高利率。
Meanwhile, Europe's central bankers decided to worry about inflation in 2011 and raise interest rates.
但是欧洲通货膨胀率的快速下降令欧洲央行面临越来越多的批评,称它在将其他一些国家央行将利率降至接近零的水平时行动过于迟缓,结果加剧了欧元区的经济放缓。
But Europe's fast-falling inflation has put the bank under increasing criticism that it has been too slow to join its peers in bringing rates close to zero, exacerbating the euro zone's slowdown.
但是欧洲通货膨胀率的快速下降令欧洲央行面临越来越多的批评,称它在将其他一些国家央行将利率降至接近零的水平时行动过于迟缓,结果加剧了欧元区的经济放缓。
But Europe's fast-falling inflation has put the bank under increasing criticism that it has been too slow to join its peers in bringing rates close to zero, exacerbating the euro zone's slowdown.
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