本帖最後由 尊 於 13-09-15 20:13 編輯
1117035
國際市場新聞發布5月24日（星期五）來自Google翻譯如下...
倫敦（MNI） - 英國銀行市場執行董事保羅·費舍爾希望央行不斷增加少量額外的量化寬鬆政策的步伐緩慢，直到情況有所改善。
費舍爾對記者說，量化寬鬆政策是目前具有影響較小，而他認為量化寬鬆的流動顯然有效果，卻沒有證據。然而，他說，他沒有想去美國的無限資產購買，當局都在努力擺脫它。
對於費舍爾來說，QE是不會衰落的，他一直在stg25億額外MPC投票的少數股東在過去四次會議。
我們已經得到了最好的證據在英格蘭銀行的表現沒有明顯的模式，我們可以辨別（QE）現在比以前那麼強大。
在美國，如果有的話，在過去的六，七月份我不會說，它已經影響較小，我會說，它已經有更多的。
我的觀點是，我們​​應該做一個緩慢的量的量化寬鬆政策一段時間。二十五（10億）超過三個月，是一個緩慢的速度。
費舍爾提出MPC清楚它會做量化寬鬆政策，也就是說，到現在為止的6個月，而資產購買超過3個月和4個月期間已經發生的可能性。
我不認為美國的立場是無限期的。
費舍爾的MPC同事之間的正統觀點，清楚列明由本·布羅德本特，是要緊QE的資產購買。費舍爾，然而，在倡導通過資產購買時間已移動到的位置流也計算。
如果你看看它在相當長的一段時間，那麼當然，它的股票事宜，這並不意味著說，流量沒有任何影響的流動顯然有效果，如果你看一下美國市場，但效果很可能是暫時的，但是，暫時的效果，不過，可能是要考慮的事情。
他補充說，他主張“只是補足（QE）的利潤通過這種不確定性繼續下去......只是做了一些保留。
費舍爾拒絕對此發表評論的熱點話題提出政策指導和中間閾值。MPC是要根據新行長馬克·卡尼（Mark Carney）在8月公佈的一份報告指導工作。
貸款計劃，貸款規模較小的企業，試圖提高在近期擴展，銀行一直積極響應。
不過，他承認，尚未領取的那部分貸款的原因是需求疲軟。
我們能做的就是保持銀行（放貸）的壓力，淡化對當前經濟回升的強度，但說他是“有理由相信，中央應該是一個溫和的復甦。
目前還不清楚，但是，保證金備用容量是否將保持不減，在此期間，它的一些可能被侵蝕。
費舍爾說：發生了什麼是對供應方的需求持續疲弱，因此供應方對需求方已經惡化，因此，它是有可能，你會消除一些閒置產能。現在通過刺激需求額外刺激可以抑制通脹，因為它會提高生產率。
- MNI倫敦局電話：+44 207-862-7491，電子郵件：drobinson@mni-news.com
1117036
Full: BOE Fisher Wants Small Amounts of Extra QE Over Time
By Market News International posted Fri， 24 May 2013 04:52
-Adds Detail To Version Transmitted At 0914 GMT
By David Robinson
LONDON (MNI) - Bank of England Executive Director Markets Paul Fisher wants the central bank to keep adding small amounts of extra quantitative easing at a slow pace until things improve.
Fisher， speaking to reporters here， said there was no evidence QE is having less impact at present and he argued the flow of QE clearly has an effect. He said， however， that he did not want to go down the US route of indefinite asset purchases， as the authorities there were struggling to get out of it.
For Fisher， QE is not a fading force and he has been in the minority on the MPC voting for stg25 billion extra at the past four meeting.
"The best evidence we have got at the Bank of England showed no obvious pattern that we could discern that it (QE) was less powerful now than previously，" Fisher said.
"In the US， if anything， over the last six， seven months I wouldn't say it has had less impact， I would say it has had more，" Fisher said.
"My view is that we should be doing a slow amount of QE over a period of time. Twenty five (billion) over three months is a slow rate and so that would be what you kick-off with and then you would stop when you thought conditions were looking a lot better，" he said.
Fisher raised the possibility of the MPC making it clear it would do QE for， say， six months whereas until now asset purchases have taken place over three and four month periods.
"There will be some point at which you eased off. I don't think I want to get into the American position of saying it is indefinite."
"It is sensible to say you are going to do it for about six months. Then you get a natural viewpoint. I think the Americans are finding it a bit hard， as we have seen recently， to get out，" Fisher said.
The orthodox view among Fisher's MPC colleagues， set out very clearly by Ben Broadbent， is that what matters with QE is the stock of asset purchases. Fisher， however， in advocating asset purchases through time has moved to a posi
He notes， however， that on the BOE's forecast growth over the next three years only gets back to trend and never much above it.
Fisher said it was unclear， however， whether the margin of spare capacity would remain undiminished during this time as some of it may be eroded.
"I don't know what spare capacity is. There is not a lot，" he said.
"What is happening on the supply side is demand stays weak so the supply side has been deteriorating towards the demand side. So it is likely that you would eliminate some spare capacity at the margin，" Fisher said.
In his earlier speech at the Cardiff Business Club here Fisher said boosting demand now through extra stimulus could curb inflation as it would boost productivity.
--MNI London Bureau; tel: +44 207-862-7491; email: drobinson@mni-news.com