Deflation robs a central bank of its ability to stimulate spending using negative real interest rates.

面对通货紧缩，央行却无力通过实际负利率来刺激消费。

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Freed from the need to uphold a gold-price parity, these countries could lower interest rates and so stimulate spending.

由于汇率不必由黄金平价决定，前者可以通过降低利率来刺激消费。

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Negative real policy interest rates have helped inflate asset price bubbles, which artificially stimulate spending - for a while.

负的实际政策利率曾在一段时间内助长了房地产价格泡沫，人为地刺激了消费。

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Negative real policy interest rates have helped inflate asset price bubbles, which artificially stimulate spending - for a while.

负的实际政策利率曾在一段时间内助长了房地产价格泡沫，人为地刺激了消费。

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