But Japan did not experience the beginning of another round of serial asset price bubbles as we do today.

但那时的日本并不像我们今天这样，面临新一轮的资产价格泡沫。

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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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Policymakers also fear that this flood of capital could lead to asset-price bubbles and overvalued currencies.

政策制定者们也担心这种资本洪流可能会导致资产价格泡沫并且高估货币。

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Watch the rise of asset price bubbles as inflation risks increase.

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On the other hand, too lax policy, such as keeping the real deposit rate deeply negative, could fuel asset price bubbles that, by definition, eventually burst.

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On Friday, the Fed Chairman warned of excessive risk-taking in financial markets, according to the FT, and reiterated the Fed is aware of the risk of inflating dangerous asset price bubbles.

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