It is difficult to plough through the Bank of England’s recent inflation report and associated Monetary Policy Committee minutes without being reminded of a slogan current in the last years of the Habsburg empire: “The situation is hopeless but not desperate.” Or was it the other way around? In any case, the main message of the report is that the outlook is gloomy and the risks are on the downside, but nothing much can be done about it.
翻阅英国央行(BoE)最近的通胀报告及相关的货币政策委员会(Monetary Policy Committee)的一些会议备忘录，令我不由得想起流行于哈布斯堡帝国(Habsburg empire)末期的那句口号：“情形没有任何希望，但还不算绝望。”或许这话应该倒过来说？反正不管怎么说，通胀报告传递的主要信息是，前途渺茫，凶多吉少，而他们束手无策。
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