If growth and employment expectations remain dismal, it will be difficult to rekindle demand, particularly private business investment, no matter how low interest rates are, or how many resources banks have for potential lending. ECB President Mario Draghi’s message in his speech last month in Jackson Hole, Wyoming, as well as at his September press conference was a clear call for more fiscal support to boost effective demand.
如果增长和就业预期继续萎靡，就很难重振需求，特别是私人商业投资，不管利率多么低，也不管银行拥有多么大的潜在贷款资源。欧洲央行行长德拉吉在上个月的怀俄明州杰克森霍尔（Jackson Hole）的讲话以及9月记者招待会上的发言都在明确呼吁采取更多的财政支持以提振有效需求。