例如，在周期的中期从宽松回转到紧缩，或者一个新的银根放松周期的第一个放松的举动。
For example, a shift from easing back to tightening in mid-cycle, or the first easing move of a new easing cycle.
我们预计，由于银根放松及通胀降低而带来的滞后的住户支出，2010年回暖的国外需求将得到加强。
We expect that a tepid recovery in external demand in 2010 to be reinforced by a lagged boost to household expenditure from monetary easing and lower inflation.
我们上次在2001年夏季对本分析报告进行了修正，致力于美元应该如何应对美国银根放松周期的结束这个问题。
We last updated this analysis in the summer of 2001, addressing the question of how the dollar should respond to the end of the US easing cycle.
如果需要，他们也可以放松银根。
在这种情况下，英格兰银行货币政策委员会(MPC)将会倾向于提高利率，而FPC则希望放松银根。
Under this scenario, the Bank of England's monetary Policy Committee (MPC) would favor an increase in interest rates, while the FPC would want to loosen monetary conditions.
放松银根可能提高了预期的总需求。
而真正测算放松银根的方法并非利率的削减，而是看能否成功的刺激新贷。
The true gauge of monetary easing is not the cut in interest rates, but whether it succeeds in spurring new lending.
由于没有及时提高房地产泡沫中的利率水平，其放松银根政策使得金钱流向每一个高风险、无借贷记录的贷款申请者。
By not raising rates quickly enough in a real estate bubble, Easy al helped let the money flow to every high-risk, no document loan applicant extant.
该备忘包括了放松银根及财政刺激和“问题”债务的解决。
Those include monetary easing as well as fiscal stimulus and "heterodox" debt workouts.
相对便宜的货币市场使得其他资产看起来更具吸引力—在长期放松银根之后对风险进行重新定价之时，这可不是一个好结果。
Cheaper money makes other assets look more attractive-an undesirable consequence at a moment when risk is being repriced after many years of lax lending.
对于这些国家，Ghosh和他的同事指出债务重组的重要性要超过放松银根。
For these countries Mr Ghosh and his co-authors advocate debt restructuring in advance of monetary easing.
那么，是ECB将做需要做的事情——放松银根，削减利率？
So will the E.C.B. do what needs to be done — lend freely and cut rates?
购买国债计划是在利率接近于零的情况下，继续放松银根的一种方式。
The plans are one way to ease monetary policy even when interest rates are close to zero .
第一件需要做的事情就是更为积极地放松银根。
One thing that's needed is much more aggressive monetary easing.
一旦没有达到这一点，他们就会借机再次放松银根。
Anything well short of that would give them an excuse to ease again.
而投资者们似乎相信，尽管近期关于股市的警告频传，但美联储和世界各国央行仍会继续放松银根，使利率保持在较低水平。
Investors, it appears, are convinced, despite repeated warnings, that the Federal Reserve and the world's central Banks are dedicated to easy money policies, meaning keeping interest rates low.
但是。从记录的情况看：在1996年转回到一种紧缩的倾向，结束了始于1995年6月的小放松银根周期，使美元的实力得到了加强。
But, for the record: the switch back to a tightening bias in July 1996, ending the minor easing cycle begun in June 1995, saw dollar strength extend.
现代经济学错就错在，它对经济疲软有一种不经大脑的膝跳反应――放松银根。
The flaw of modern economics is its knee-jerk response to economic weakness: loosening the money supply.
“美国放松银根对新兴市场构成了压力，”加拿大皇家银行资本市场(RBC CapitalMarkets)新兴市场高级策略师奈吉尔·兰德尔(Nigel Rendell)表示。
"The US fiscal loosening puts pressure on the emerging markets," says Nigel Rendell, senior emerging markets strategist at RBC Capital markets.
中国人民银行的这一举措与全球范围内央行放松银根的趋势不谋而合，旨在抵御日益增长的通缩威胁。
The PBoC's action also adds to the trend of central banks across the world easing monetary policy to fight off a growing threat of deflation–a trend that goes in the opposite direction to the U.
他们不会在必须放松银根的非常时候收紧银根。
They will not tighten the money supply at the very moment when it ought to be loosened.
但是，欧洲经济数据疲软加上通胀压力出现减缓信号，表明央行或需要在某个阶段放松银根。
However, the weakness of Europe's economic data combined with signs of easing inflation pressures, suggest that the Bank may need to loosen policy at some stage.
但是，欧洲经济数据疲软加上通胀压力出现减缓信号，表明央行或需要在某个阶段放松银根。
However, the weakness of Europe's economic data combined with signs of easing inflation pressures, suggest that the Bank may need to loosen policy at some stage.
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