That brings us to monetary policy, the importance of which as a determinant of commodity prices is often forgotten. Monetary tightening is widely anticipated in the US, with the Federal Reserve having ended quantitative easing in October and likely to raise short-term interest rates sometime in the coming year.
这就提醒我们关注货币政策，货币政策作为大宗商品价格的决定因素的重要性常常被忘却。在美国，人们普遍预期货币将会紧缩，美联储已经在10月结束了量化宽松，并有可能在来年提高短期利率。