解读欧央行量化宽松货币政策

Analysis of the European Central Bank's Quantitative Easing Policy

本文对欧央行近期的货币政策进行了解读。欧元区面临通货紧缩风险,常规货币政策趋于无效。在此背景下,欧央行宣布下调三大基准利率,启动资产支持证券购买计划,由此拉开了量化宽松货币政策大幕,为缓解地区金融分化、促进实体经济发展提供了宽松的货币环境。

The article offers an analysis of the European Central Bank's policy of quantitative easing. Facing deflationary risks,conventional monetary policy in the eurozone may not be particularly effective. Under such a background,the European Central Bank announced a lowering of three major benchmark interest rates and launched a plan for asset-backed securities purchases. Taken together these are the implementation of a monetary policy of quantitative easing with the aim of easing regional financial fragmentation and providing a more accommodative monetary environment for real economic development.