All the major Western central banks – including even the traditionally “hawkish” ECB – appear to be sticking their heads in the sand. But there is something they can do to ensure the benefits of inflation-targeting rules (credibility and well-anchored inflation expectations) while also supporting recovery: raise the stated target.
然而西方各大央行——甚至包括传统上一向“鹰派”的欧洲中央银行——似乎都像鸵鸟一样把头埋在了沙里。但其实他们也能一方面确保在通胀目标法则（信誉以及可控的通胀预期）中得益，另一方面又不致影响复苏：那就是提高通胀目标。