歐洲的兩家央行之間的分歧越來越大：為應對全球信貸緊縮，英國央行(Bank of England)昨日決定下調利率；而歐洲央行(ECB)則表示，未來仍可能再次加息。
A gulf opened up between Europe’s two largest central banks yesterday after the Bank of England responded to the global credit squeeze by cutting interest rates while the European Central Bank indicated another increase was still on the agenda.
英國央行將主要利率下調0.25個百分點，至5.5%，反映出該央行對中期經濟前景在最近幾周變得暗淡的擔憂。
The Bank of England cut its main interest rate by a quarter of a percentage point to 5.5 per cent, reflecting its concern that the medium-term economic outlook had darkened in recent weeks.
英國央行在聲明中指出，金融市場環(huán)境日益惡化，“家庭和企業(yè)信貸供應趨緊”，可能危及經濟增長，讓通脹率遠低于英國央行設定的2%的目標。
In a statement, it blamed deteriorating conditions in financial markets and “a tightening in the supply of credit to households and businesses” that threatened to depress growth and allow inflation to fall too far below the Bank’s 2 per cent target.
盡管英國央行仍然擔心通脹率在未來數月可能上升，但它認為，更廣泛經濟領域面臨的風險，證明放寬貨幣政策是正確之舉。
Although the Bank was still worried about rising inflation over the next few months, it judged the risks to the wider economy justified the easing of monetary policy.
英國央行的分析與經合組織(OECD)經濟學家相吻合。經合組織的經濟學家昨日提出：“有跡象顯示，英國的住宅市場已明顯惡化，英國可能比大多數國家更容易受到金融動蕩的影響”。
The Bank’s analysis matched that of economists from the Organisation for Economic Co- operation and Development, who argued yesterday “the UK could be more vulnerable than most countries to the impact from financial turmoil and because of evidence that the housing market is turning sharply down”.
分析人士立即對英國央行的舉措做出了反應——接受路透社(Reuters)調查的61位經濟學家中，絕大多數人預計，到明年夏季，英國的利率將降至5%。
Analysts responded immediately to the Bank’s move, with the majority of 61 economists polled by Reuters predicting that rates would fall to 5 per cent by next summer.
不過，歐洲央行行長讓-克勞德?特里謝(Jean-Claude Trichet)表示，全球信貸緊縮對實體經濟的影響仍不明朗。
Jean-Claude Trichet, ECB president, said the impact on the real economy of the global credit squeeze remained unclear.
他堅稱，歐洲央行沒有完全放棄加息計劃。在此前召開的歐洲央行理事會會議上，“一些”理事支持加息。歐洲央行目前的利率為4%。
He insisted the ECB had not jettisoned completely plans to raise interest rates from the current 4 per cent level, arguing that after a meeting of the ECB’s governing council that “some” members had favoured such a move.
A gulf opened up between Europe’s two largest central banks yesterday after the Bank of England responded to the global credit squeeze by cutting interest rates while the European Central Bank indicated another increase was still on the agenda.
英國央行將主要利率下調0.25個百分點，至5.5%，反映出該央行對中期經濟前景在最近幾周變得暗淡的擔憂。
The Bank of England cut its main interest rate by a quarter of a percentage point to 5.5 per cent, reflecting its concern that the medium-term economic outlook had darkened in recent weeks.
英國央行在聲明中指出，金融市場環(huán)境日益惡化，“家庭和企業(yè)信貸供應趨緊”，可能危及經濟增長，讓通脹率遠低于英國央行設定的2%的目標。
In a statement, it blamed deteriorating conditions in financial markets and “a tightening in the supply of credit to households and businesses” that threatened to depress growth and allow inflation to fall too far below the Bank’s 2 per cent target.
盡管英國央行仍然擔心通脹率在未來數月可能上升，但它認為，更廣泛經濟領域面臨的風險，證明放寬貨幣政策是正確之舉。
Although the Bank was still worried about rising inflation over the next few months, it judged the risks to the wider economy justified the easing of monetary policy.
英國央行的分析與經合組織(OECD)經濟學家相吻合。經合組織的經濟學家昨日提出：“有跡象顯示，英國的住宅市場已明顯惡化，英國可能比大多數國家更容易受到金融動蕩的影響”。
The Bank’s analysis matched that of economists from the Organisation for Economic Co- operation and Development, who argued yesterday “the UK could be more vulnerable than most countries to the impact from financial turmoil and because of evidence that the housing market is turning sharply down”.
分析人士立即對英國央行的舉措做出了反應——接受路透社(Reuters)調查的61位經濟學家中，絕大多數人預計，到明年夏季，英國的利率將降至5%。
Analysts responded immediately to the Bank’s move, with the majority of 61 economists polled by Reuters predicting that rates would fall to 5 per cent by next summer.
不過，歐洲央行行長讓-克勞德?特里謝(Jean-Claude Trichet)表示，全球信貸緊縮對實體經濟的影響仍不明朗。
Jean-Claude Trichet, ECB president, said the impact on the real economy of the global credit squeeze remained unclear.
他堅稱，歐洲央行沒有完全放棄加息計劃。在此前召開的歐洲央行理事會會議上，“一些”理事支持加息。歐洲央行目前的利率為4%。
He insisted the ECB had not jettisoned completely plans to raise interest rates from the current 4 per cent level, arguing that after a meeting of the ECB’s governing council that “some” members had favoured such a move.