The organisation also warned that the risks of deflation still remain if monetary policy is tightened too aggressively.

该组织更警告谓，倘若日本加息过急，通缩风险将难以消除。

youdao

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.

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。

youdao

The lesson from Japan is that, if there is the slightest risk of deflation, monetary policy needs to be looser than warranted by current economic conditions.

ECONOMIST: Euro-area economies

Most serious of all, deflation can make monetary policy ineffective: nominal interest rates cannot be negative, so real rates can get stuck too high.

ECONOMIST: Could it happen again?

Once deflation sets in, monetary policy can do little to revive an economy.

ECONOMIST: The world economy