Though monetary policy is supportive, it is close to reaching its limits, and the ECB’s initiative to stimulate credit by lending to commercial banks on super-cheap terms has not proved as effective as hoped. AAA ten-year government bonds currently yield about 1%, suggesting that markets do not expect a strong rebound.
尽管采取了支持性货币政策，但已接近极限，而欧洲央行通过以极优厚的条件向商业银行贷款来刺激信用的方案并没有达到预期中的效果。目前，AAA级十年期政府债券收益率在1%左右，表明市场并不预期会有强劲反弹。