Though monetary stimulus is important to facilitate deleveraging, prevent financial-system dysfunction, and bolster investor confidence, it cannot place an economy on a sustainable growth path alone – a point that central bankers themselves have repeatedly emphasized. Structural reforms, together with increased investment, are also needed.
尽管货币刺激对于促进去杠杆化、防止金融系统功能失调和提振投资者信心方面十分重要，但光靠它无法让经济走上可持续发展之路——央行官员本身也在一再强调这一点。结构改革以及增加投资也是必要条件。