然而没有效果并不表明量化宽松政策失效了。
Yet the absence of such an effect is not proof that QE has failed.
复苏模式：中国应该对美国的量化宽松政策感到担心吗？
Recovery Mode: Should China Worry About the US's Quantitative Easing?
寄希望于新一轮量化宽松政策能刺激经济复苏。
The hope is that another burst of QE will give the recovery a fillip.
欧洲经济要实现完全复苏单靠量化宽松政策是不够的。
To achieve full recovery of the European economy QE alone is not enough.
然而更多的量化宽松政策似乎是目前最可能的政策反应。
诚然，一个国家内实行量化宽松政策不会没那么有效果。
Indeed the main effect of QE-in-one-country may be a weaker pound.
现在实施第二轮量化宽松政策似乎是可能的。该如何实施？
A second round of quantitative easing now seems likely. How might it work?
从某种意义上说，这种传递游戏意味着量化宽松政策注定失败。
To some, this game of pass-the-parcel is a sign that QE is doomed to failure.
实际上，两国的量化宽松政策都因为债务管理的政策而遭到了削弱。
In effect, QE in both countries has been undermined by debt-management policy.
实际上，两国的量化宽松政策都因为债务管理的政策而遭到了削弱。
In effect, QE in both countries has been undermined by debt-management policy.
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