And deflationary traps can go on for a long time.
通货紧缩可以持续很长时间。
That only increased the deflationary pressures at home and abroad.
那只会增加国内外通货紧缩的压力。
But I do not see this economy going the deflationary way of Japan.
但我认为，美国经济不会重蹈日本的通缩覆辙。
Keeping rates low would help prevent deflationary forces from taking hold.
保持低利率有助于预防通货紧缩的出现。
But Japan cannot get out of the deflationary mess if the yen keeps strengthening.
但是，如果日元继续保持强势，日本就爬不出通货紧缩的泥沼。
However, I am more certain than he is that the maximum deflationary pressures have passed.
但有一点我比他更清楚，那就是最大的通缩压力已经过去了。
The sobering lesson is that conventional policy may not prevent a prolonged deflationary slump.
一个深刻的教训是传统的政策也许并不能阻止长时期的通缩衰退。
As well as heading off deflationary fears the programme has given a further lift to share prices.
该计划阻止了通缩担忧的同时，也使股市价格更上了一层楼。
With the Fed meeting Tuesday, the danger at the moment is that a deflationary mind-set is taking hold.
美联储周二将召开会议，当下的危险是普遍存在的通货紧缩心态。
The simplicity of the solution, however, is not easily achieved once deflationary momentum takes hold.
这个补救方法的逻辑虽然简单，但一旦通货紧缩的势头控制了全局，它仍然难以实现。
Estimating how big the output gap is, and how much of a deflationary threat it still poses, is not easy.
要估测产出缺口的大小，及其可能引发通货紧缩的威胁有多大，并不容易。
But cautious incrementalism, ironically, risks letting the world slip ever further down the deflationary spiral.
但是，讽刺的是，小心谨慎的渐进主义冒着让世界更进一步地滑入紧缩的恶性循环的风险。
Fiscal austerity robs policymakers of a potent antidote to a deflationary slump: simultaneous fiscal and monetary expansion.
财政紧缩政策会剥夺政策制定者应对大规模通货紧缩的一剂猛药：并行的财政货币扩张政策。
But second, it would be folly to put the burden of adjustment solely on them, for that would create a huge deflationary bias.
第二，让那些国家单独承担调整的压力是愚蠢的，因为这会引发巨大的通货紧缩趋势。
Nor does a new outbreak of high inflation seem imminent, given the pervasive deflationary conditions in most of the rich world.
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。
The recent fiscal consolidation measures made the matter far worse by widening an already formidable deflationary gap even wider.
近期的财政巩固措施进一步扩大了本就已经相当棘手的通缩差，让问题雪上加霜。
A clampdown on deficits would intensify the deflationary forces in the economy and would lead to a new and more intense recession.
压缩赤字将加剧经济中的通缩势头，导致一场新的、更为严重的衰退。
But others are concerned that excess production capacity and depressed global demand could lead to increased deflationary pressures.
但是其他人则担心，产能过剩和全球需求的低迷可能会导致通货紧缩压力增加。
That view is based on another expectation — that growth will recover rapidly to trend levels and deflationary pressures will disappear.
而这一观点又是建立在另外一个预期之上——增长将迅速回归到原有水平，通缩压力将消失不见。
SINCE the bursting of Japan's asset bubbles in the early 1990s, the country has undergone a long and deflationary process of debt reduction.
日本从1990年代初的资产泡沫破灭伊始，就进入了一个冗长的通货紧缩、降低负债的过程。
In the developed world, however, higher commodity prices may act as a deflationary force, a tax that reduces the spending power of consumers.
但是，在发达国家，高昂的商品价格或许会引发通货紧缩，类似于一种赋税——它削弱了消费者的购买力。
Because the alternative - unleashing deflationary forces stored up over years of mercantilist policies - would be too painful to contemplate.
因为另一种选择——释放多年来在重商主义政策下积聚起来的通缩压力——会极其痛苦，容不得人考虑。
Whether that was down to the brilliance of central Banks or the deflationary pressures emanating from China and India is still a matter of debate.
而这到底是归功于央行的聪明才智还是发源于中国以及印度的通缩压力仍是争论的焦点。
Whether that was down to the brilliance of central Banks or the deflationary pressures emanating from China and India is still a matter of debate.
而这到底是归功于央行的聪明才智还是发源于中国以及印度的通缩压力仍是争论的焦点。
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