Quantitative easing
量化寬松
Central banks will be a major topic of conversation in the meeting rooms, coffee shops and bars of Davos this week, as monetary policy in Europe and the US continues to diverge and inflation falls across the global economy.
歐洲和美國繼續(xù)采用相悖的貨幣政策,而全球通貨膨脹率持續(xù)下降。在這種背景下,央行政策將會(huì)成為本周達(dá)沃斯論壇的一個(gè)重要話題,無論是在會(huì)議上被正式提起,還是在咖啡館和酒吧的閑聊間被談及。
The shock abolition of Switzerland’s currency gap last week has left many financial firms nursing losses, and reminded us all that 2015 could be a turbulent year in the markets. Thomas Jordan, the Swiss central bank chief who sparked the turmoil, can expect a lively reception. At least seven other central bank chiefs are also attending, including the Bank of England governor, Mark Carney.
近日,瑞士央行出乎意料地宣布取消瑞士法郎掛鉤歐元的匯率下限,使得許多金融公司蒙受了巨大的損失。這告訴我們,2015年將會(huì)是市場動(dòng)蕩的一年。瑞士央行行長托馬斯·喬丹的出現(xiàn)很可能會(huì)引起現(xiàn)場巨大的反響,因?yàn)檎撬臎Q定引發(fā)了這一場混亂。至少有七位其他央行行長將會(huì)出席此次年會(huì),其中包括英格蘭銀行主席馬克·卡尼。
The European Central Bank (ECB) president Mario Draghiisn’t attending this year. He will be stuck in Frankfurt handling the ECB’s meeting on Thursday, where a big quantitative easing (QE) programme could be announced.
歐洲中央銀行行長馬里奧·德拉吉將不會(huì)出席本次年會(huì)。他將于周四主持歐洲央行的貨幣政策會(huì)議,并可能在會(huì)后召開的新聞發(fā)布會(huì)上公布量化寬松政策的路線圖。
Earlier that day a debate will take place on the prospect of higher interest rates in the US. Delegates from emerging markets will be pushing American officials to handle the ending of the QE programme responsibly, after seeing “hot money” pour into their economies. They don’t want a repeat of the currency crisis that struck Argentina during last year’s meeting.
當(dāng)天,在會(huì)議開始之前,歐洲央行會(huì)舉行一次辯論會(huì),主題是美國利率能否有望上升。來自新興市場國家的代表們將會(huì)向美國政府施壓,迫使它承擔(dān)責(zé)任,在“熱錢”進(jìn)入美國市場后謹(jǐn)慎停止量化寬松政策。去年會(huì)議召開期間,阿根廷受到了一場貨幣危機(jī)的重創(chuàng)。而新興國家的代表們希望這一事件不再重演。