This monetary ease showed up quickly in flexible commodity prices, but has yet to feed through into the price of other goods, such as manufactures, many of which Australia imports.

宽松的货币环境很快体现在了弹性较好的商品价格上，但到目前为止还没有反映到其他商品，比如制造品(澳大利亚是这类商品的进口者)的价格上。

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Yet, pundits seem to think that monetary ease without the contribution of lower interest rates will be greater, not less.

FORBES: 'Quantitative Easing' Is A Toxic Phrase for a Routine Policy

However, without an associated further decline in interest rate, the impact of further monetary ease will likely still be positive, but less so.

FORBES: 'Quantitative Easing' Is A Toxic Phrase for a Routine Policy

Fortunately the U.S. does not yet suffer Japan's structural deadweights, but the Fed could still make the mistake of thinking that easing interest rates is the equivalent of monetary ease.

FORBES: Fact and Comment