UK introduces quantitative easing to aid economy 英国实行定量宽松货币政策助推经济
The move comes after the bank cut interest rates from one percent to 0.5 percent last week -- a drop of five percent since October last year and the lowest in the bank’s 315-year history. 自从上周英国宣布银行利率由1%降至0.5%以来,这是英国采取的又一措施--自去年十月至今英国银行利率以降低了5%,在315年的英国银行历史上利率最低。
Central banks worldwide including the Bank of England have tried to encourage spending and lending during the current downturn by cutting interest rates -- with limited success. 包括英国央行在内的全世界的中央银行通过削减利率来鼓励消费和信贷,在这个经济低迷时期成效甚微。
Rates can now not fall much further -- hence, the Bank of England believes, the need for another strategy. 银行利率已经不能再下降了,所以英国央行认为需要采取其他措施。 Quantitative easing is often described as "printing money" -- although no new notes and coins are actually created. 虽然没有真正的出产新的货币,但定量宽松货币政策还是经常被称为“印钱政策”。 Instead the Bank of England will "create" more money on its balance sheet, then use this to buy banks’ assets such as home loans and government bonds, thereby pumping extra cash into the system. 相反英国央行会“制造”更多的货币来平衡资产,通过为银行体系注入额外现金来购买房贷,国债等银行资产。 The banks all have accounts with the Bank of England, and the money will simply be credited to those accounts. The creation of more funds will be done electronically. 英国所有的银行都会得到英国央行的现金援助,更多资金的注入将通过电子手段完成。 The Bank’s Monetary Policy Committee, which determines strategy, has the authority to create up to £150 billion ($207 billion) on the balance sheet, although it has said it will only inject £75 billion ($105 billion) over the next three months -- or £5 billion ($6.9 billion) per week. 负责制定政策的英国金融政策委员会注资1500亿英镑(2070亿美元)平衡银行帐户,但据说在接下来的三个月里英国央行只注入750亿英镑(1050亿美元)--即每周50亿英镑(69亿美元)。 The first chunk is being used to buy government gilts, the UK’s Press Association reported, at twice-weekly auctions. 据英联社报道,第一笔注入资金将在每周两次的拍卖会上用来购买国债。 Quantitative easing was last introduced in a major economy in Japan from 2001 until 2006. 上一次实行定量货币宽松政策是2001年至2006日本。 The economy recovered, although expert opinion is divided as to whether quantitative easing helped with anything other than improving sentiment among consumers and business. 虽然部分专家认为会影响国民的情绪,但毕竟日本经济后来复苏了。
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