The slowdown in the US and eurozone economies continues to surprise the Federal Reserve and the European Central Bank, explaining their recent sharp turn towards dovishness. ECB president Mario Draghi coined another of his memorable phrases last week, saying that “ pervasive uncertainty” meant downside risks, even relative to the central bank’s latest downgraded growth forecasts, were still predominant.
美國和歐元區經濟放緩繼續讓美聯準(Fed)和歐洲央行(ECB)感到意外,這解釋了他們近期的立場爲何急劇轉溫和。上週歐洲央行行長馬里奧•德拉吉(Mario Draghi)創造了又一個令人難忘的短語,稱「普遍的不確定性」意味著下行風險(甚至是相對歐央行最近下調了的成長預測而言的下行風險)仍然佔據主導地位。
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