歐洲央行加大量化寬鬆力度
The European Central bank has unleashed a bigger-than-expected package of measures to stimulate the eurozone economy, with expanded quantitative easing, incentives to banks to increase lending and further interest rate cuts.
歐洲央行(ECB)宣佈了超出預期的一攬子措施來刺激歐元區經濟，包括擴大量化寬鬆政策、激勵銀行增加放貸以及進一步降息。
The ECB cut its deposit rate by 10 basis points yesterday to minus 0.4 per cent but eased the impact on banks with cheaper short-term loans and longer-term liquidity at negative interest rates — essentially paying eurozone lenders to increase credit to households and companies.
昨日，歐洲央行將存款利率下調10個基點，至-0.4%，但同時以更廉價的短期貸款和更長期的負利率流動性緩解對銀行造成的衝擊——相當於出錢讓歐元區銀行增加對家庭和企業的信貸。
Mario Draghi, ECB president, said interest rates would stay low for “an extended period” and he kept open the option of a further cut. But he added his voice to growing unease about negative rates among top central bankers, saying he did not anticipate pushing deeper into negative territory, partly because of the impact on banks.
歐洲央行行長馬里奧•德拉吉(Mario Draghi)表示，利率將在“較長時期”保持低位，而他手中還保留着進一步降息的選項。但他加入了那些對負利率日益感到不安的央行高官的行列，稱自己並不預期在利率負值區域推進更深，一部分原因是考慮到對銀行的衝擊。
“Does it mean we can go as low as we want without having any consequences on the banking system? The answer is no,” the ECB president said.
德拉吉說：“這意味着我們可以隨心所欲下調利率，而不對銀行體系造成任何後果？答案是否定的。”
His comments on rates triggered a surge in the euro to $1.12, a near 2 per cent rise on the day, after it earlier plunged on the news of the ECB’s measures.
他對利率的評論引發歐元兌美元匯率上漲至1歐元兌1.12美元，當日漲幅接近2%。歐洲央行採取新措施的消息在早些時候曾導致歐元匯率大跌。
Analysts interpreted the measures as a recalibration of the ECB’s armoury, putting more ammunition into reinforcing the eurozone’s economy and less into weakening the currency.
分析師們對最新措施的解讀是，歐洲央行調整了火力配置，把更多彈藥投入加強歐元區的經濟，而非壓低歐元。
The ECB raised the amount of bonds the eurozone’s central bankers buy each month under QE from 60bn to 80bn — a greater amount than many analysts had expected. It also expanded the range of assets it will buy to include high quality corporate bonds.
歐洲央行將歐元區各國央行行長在量化寬鬆政策下每月可購入的債券額從600億歐元上調至800億歐元——超出許多分析師的預期。歐洲央行還將該行可購買的資產範圍擴大到包括優質公司債券。
