The third argument is that higher inflation today would endanger the ECB’s credibility in the future. This argument, too, is hardly irrelevant: higher inflation today must not be permitted to change inflation expectations in the medium run.
第三条理由是当前较高的通胀水平会危及欧洲央行将来的信誉。这个理由同样不无道理：绝对不能允许当前较高的通胀水平改变人们的中期通胀预期。