由于工业繁荣时期商品价格上涨和利润优厚，大量信贷被投机者用来从事投机活动，信用膨胀大大超过生产的增长。
As the boom of commodity prices and profits are good, a lot of credit to be used for speculative activities of speculators, the credit expansion greatly exceeds production growth.
在日本近年来的记忆中没有哪件事能如1990年后的信用膨胀泡沫的爆破和股票价格的暴跌那样来的更令人印象深刻。
NO EVENT is seared upon Japan’s recent memory like the bursting of the country’s credit-inflated bubble in land and share prices after 1990.
信用政策对一个已经膨胀的房地产泡沫已经无多大帮助。
Credit policies that inflated further an already expanding property bubble would not be helpful.
实际上，这可能很难做到，但是他指明了一个原则：中央银行的信用要最需要的时候才能用，而不是在控制通货膨胀的时候用。
In practice, this could be hard to achieve, but he has identified one principle. Central Banks' credibility should be focused where it is most needed, on controlling inflation.
许多央行采用的宏观经济模型专注于通货膨胀的短期影响，而对货币及信用的供给较少关注。
The macroeconomic models used by many central Banks focus on short-term influences on inflation; they focus less on the supply of money and credit.
（看图 1）现在，很容易把“凯尔特之虎”（注3）生活水准的上升打发成为经济泡沫年代的幻象，特别是爱尔兰所经历的房价上升及流通信用的膨胀，哪怕以英国的标准来讲都是庞大的。
It is easy now to dismiss the rise in living standards in the “Celtic Tiger” years as illusory, particularly as Ireland enjoyed house-price and credit booms that were big even by British standards.
在信用泡沫期间，包括花旗李曼兄弟美洲银行在内的总部在美国的超级全球性投资银行，到处横行趾高气扬，自负之心和账面盈余不断膨胀。
During the credit bubble, the huge, global, U.S.-based investment banks-citigroup, Lehman, bank of america-strutted around the slopes, their egos and balance sheets swollen.
不过当通货膨胀的速度保持高于消费者价格2%的目标时，公众开始质疑银行的信用。
But the bank's credibility is starting to be questioned as inflation keeps on exceeding the 2% target for consumer prices.
这样我们就有十足的把握来摧毁他们的信用，使他们的货币贬值，通货膨胀。
So we have full assurance to destroy their credit so that their currency devaluation, inflation.
在全球信用不断膨胀的背景下，信用风险暴露也越来越严重。
Under the background of fact that global credit is inflating constantly, the credit risks expose more and more serious.
金代的恶性通货膨胀主要是由过盛的财政需求、无节制的信用泛滥以及错误的货币措施共同导致的财政型通货膨胀。
The vicious inflation of JIN Dynasty was owed to the surplus fiscal demands and no credit and the fault of money measures.
在短短几个月里，世界已经从担心通货膨胀和145美元的石油变成了担心通货紧缩和前所未有的信用危机。
In a few short months, the world has gone from worrying about inflation and $145 oil to deflation and an unprecedented credit crisis.
在短短几个月里，世界已经从担心通货膨胀和145美元的石油变成了担心通货紧缩和前所未有的信用危机。
In a few short months, the world has gone from worrying about inflation and $145 oil to deflation and an unprecedented credit crisis.
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