The eurozone economy is stuck in a long and drawn-out recession. It will probably continue for the rest of the year. Unemployment has reached a eurozone-era record of 12 per cent, and will probably rise further. Inflation is at the lower end of the target range, and projected to fall. The risks to growth and inflation are both on the downside. So why on earth is the European Central Bank not cutting interest rates?
歐元區經濟正陷入曠日持久的衰退當中。這種情形或許在今年剩餘時間裏也不會改變。失業率達到12%，創出歐元時代的新高，而且可能還會上升。通膨處於目標區間的低端，預計會繼續下降。成長和通膨均存在下行風險。那麼歐洲央行(ECB)到底爲什麼不降息？
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