Even this has an upside, since it has helped to hold down inflation in places like London.

甚至，这也还有一个好处，便是有助于抑制诸如伦敦等地的通货膨胀。

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The slide in oil prices in recent years was one of the main factors that helped to hold down American inflation, so prolonging the country's long economic expansion.

近年的油价下滑是压制美国通胀的主要因素之一，从而延续美国的长期经济扩张。

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On the other hand, if central Banks intervene to hold down their currencies, the build-up of reserves can lead to excessively loose monetary conditions and rising inflation.

另外，如果央行干预抑制通货，储蓄的建立会导致货币状况的过度宽松，增加通货膨胀。

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China helped to hold down inflation in developed economies not because its prices were falling, but because its goods were much cheaper.

ECONOMIST: Why China is not to blame for the surge in global inflation

Thanks to globalisation and technology, which have helped to hold down inflation, central banks have recently not needed to raise interest rates by as much as in past cycles.

ECONOMIST: Economics focus

By producing goods more cheaply and so helping to hold down inflation and interest rates in rich economies, China may have indirectly encouraged excessive credit creation and asset-price bubbles there.

ECONOMIST: The dragon and the eagle | The