The US and UK have similarities that go beyond speaking the same language: both had huge expansions in household credit; both had to rescue their financial sectors; both have watched their central banks push interest rates close to zero and adopt “quantitative easing”; and both have experienced massive post-crisis increases in fiscal deficits. Yet a big policy divergence is on the way. The coalition government of the UK will today announce details of their cuts in government spending. Nothing comparable is expected in the US. In its latest forecasts, the International Monetary Fund has noted this divergence. But the bond markets seem quite insouciant, at least so far (see chart).
除了说同一种语言之外，美英两国还有很多相似之处：两国都经历了家庭信贷大幅扩张；两国都不得不拯救本国金融行业；两国央行都把利率降至接近零的水平并采取“定量宽松”政策；两国在危机之后都经历了财政赤字大规模增加。然而，两国现在正出现巨大的政策分歧。英国联合政府近日宣布了削减政府支出的细节。但预计美国不会采取类似举措。在最新manbetx20客户端下载 展望中，国际货币基金组织(IMF)指出了这一分歧。但债券市场似乎对此熟视无睹，至少目前如此。