观点央行

Pain killers might work, but economies need antibiotics
manbetx20客户端下载 乏力不能只打“镇痛剂”


汇丰集团首席manbetx20客户端下载 学家简世勋:央行采取货币政策干预市场的行为能刺激市场,但无法提振manbetx20客户端下载 ,是镇痛剂而非抗生素。这可能导致manbetx20客户端下载 对政策的依赖性越来越深,让“停药”变得越来越难。

So, more drugs to deal with our collective lack of growth. The Bank of England’s Funding for Lending extension is welcome: the scheme lasts longer than before, contains extra incentives to lend to cash-strapped small and medium-sized enterprises and has been widened to include non-bank sources of credit, including financial leasing corporations. And after some remarkably soggy eurozone data – including purchasing manufacturers index figures suggesting that the German economy is not quite as dynamic as Bayern Munich – investors are increasingly hopeful that the European Central Bank will come to the rescue, buying up equities as if the dark clouds are about to lift.

要治好manbetx20客户端下载 增长集体乏力症,我们需要增加用药的品种和剂量。延长英国央行(BoE)的“融资换贷款计划”(Funding for Lending)是个受欢迎的做法:该计划持续时间比之前更久,增加了一些额外激励措施、鼓励金融机构向资金紧张的中小型企业放贷,涵盖范围扩大、纳入了金融租赁公司等非银行信贷来源。在一些极不乐观的欧元区manbetx20客户端下载 数据(包括“采购经理指数”(PMI)数据,显示出德国manbetx20客户端下载 并不像足球俱乐部拜仁慕尼黑(Bayern Munich)那样有活力)公布以后,投资者越来越觉得,欧洲央行(ECB)会出手相救、购买股票,笼罩在市场上方的乌云即将消散。

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