Some believe this move has been driven by expectations of low inflation (or deflation) in coming years.

一些人认为这是由对未来几年低通胀(或通货紧缩)的预期所至。

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The European Central Bank says it has avoided both inflation and deflation: Annual inflation in the 16-nation euro zone is running at about 1%.

欧洲央行说，已经避免了通货膨胀和通货紧缩：由16个国家组成的欧元区的年通货膨胀率约为1%。

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And lower inflation in Germany means that, to close the inflation differential, peripheral countries will need a bout of outright deflation.

德国一国较低的通胀水平意味着，为了缩小通胀差距，边缘国家需要一次彻底的紧缩。

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The value of money changes through time because of inflation or deflation; yet, most of our debts are written in money terms.

货币的价值因时而异,那是因为存在通货膨胀和通货紧缩;,但是，我们大多数负债都以货币方式记录。

耶鲁公开课 - 金融市场课程节选

This internal adjustment might involve inflation in surplus countries and deflation in deficit countries.

FORBES: Currency Manipulation

And already, because of inflation in Brazil and price deflation in Argentina, the real exchange rate between them is close to its pre-devaluation level.

ECONOMIST: Another president caught in Argentina’s economic trap | The

The debate over whether we are in for inflation or deflation was alive and well at the Agora Symposium in Vancouver this week.

FORBES: The Deflation Question