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1·Energy policy could also play an important role in counteracting both depression and deflation.

在抗击萧条和通缩的过程上，能源政策也可以发挥重要作用。

2·The Federal Reserve is pursuing a policy of inflation out of an erroneous fear of deflation.

出于对通货紧缩的过度担忧，美联储正在执行会导致通胀的政策。

3·The Federal Reserve policy makers at its most recently meeting concluded that the threat of deflation was receding. We may not be out of the woods yet.

联邦银行政策制定者在他们最近一次会议中断言通缩的威胁正在减少，但是我们还没走出困境。

4·The finance ministry blames the bank of Japan for failing to tackle deflation. The central bank blames lax fiscal policy for the country's debt.

财务大臣谴责日本银行未能解决通货紧缩，而央行则怪罪针对国家负债的宽松财政政策。

5·Their policy is always talking about controlling inflation or preventing deflation, but it is always inflationary.

他们的政策总是关于控制通货膨胀和防止通货紧缩，然而最后的结果却总是通货膨胀。

6·Inflation and deflation are, at the end of the day, policy choices.

通胀和通缩最终都属于政策选择。

7·The policy may jangle inflationary nerves but it is in fact designed to combat deflation, the new bogeyman.

该政策可能牵动人们对通货膨胀的担心，但事实上这是用来抵御通货紧缩的，通货紧缩是一个新的威胁。

8·Faced with sinking asset prices, insolvent Banks, moribund growth and deflation, the bank of Japan (BoJ) eventually lowered its policy rate to zero in 1999.

面对跳水的资产价格，倒闭的银行，萎靡的增长与通货紧缩，日本银行(BoJ)最终在1999年将其引导利率降到了零水平。

9·Many economists fear the opposite: if policy is kept too tight and deflation takes hold it will become harder to induce spending by cutting rates.

许多经济学家担心的恰恰相反：假如政策偏紧而通货紧缩，通过削减利率来促进消费将更加困难。

10·Japan made three key policy errors that contributed to its falling into deflation and staying there.

日本犯下了三个关键政策错误，导致该国陷入通缩且至今无法自拔。