Cyclically, unprecedented monetary ease - both in terms of rates and quantities - is acting to boost inflation expectations, but so far the impact has been slight.

• 就周期因素而言，无论从利率还是货币总量的角度看，近期货币放松的力度都是空前强大的，这刺激了通胀预期。但到目前为止，这种影响仍是有限的。