A bigger question , however , is whether the rationale behind the reflation trade makes any sense .
但问题是,支撑通货再膨胀交易的观点是否有道理。
But the reflation trade took a bit of a dent on february 29th when ben bernanke , the federal reserve 's chairman , gave no hint of a third round of qe in testimony to congress .
These are symptoms of a belief in reflation but by raising the cost of money and of energy , they could also remove the stimulus from the economy .
这些都是相信通货再膨胀的征兆但通过抬高资金及能源成本,它们也可能移除刺激经济的因素。
In the developed world , the balance of social and political risk is driving policy one way , to reflation , by any means possible .
在发达世界,社会和政治风险的平衡正推动政策尽一切可能朝通货再膨胀的方向发展。
This time , the task is again twofold , only much bigger : first , prop up the european banks , and ensure emergency low-cost loans for spain and italy ; second , another round of reflation .
It is known as the " reflation trade " . The theory is that rich-world central banks will do whatever it takes to revive their economies , even if that means tolerating a period of above-target inflation .