The 1990s was a period of disinflation, when companies lost much of their power to raise prices.

20世纪90年代是一段通货紧缩期，当时各公司大大丧失了他们的提价能力。

If they contain disinflation, they may not.

即便他们能抑制通货紧缩，他们也可能不这么做。

Who Shall Be Responsible For the Global Disinflation ?

谁应对全球通货紧缩负责?。

To the extent that this helps contain global disinflation, it is helpful.

在某种程度上来说有助于抑制全球经济通货紧缩，这种循环是有益的。

In the past years, a sharp disinflation has appeared largely because of tight money policies.

这几年出现了明显的通货收缩，很大程度上是由于采取了货币紧缩政策。

Now, if you operate an economy below trend for long periods of time, disinflation is sure to become a problem.

现在，如果你操纵经济长期低于基本趋势，通货紧缩势必成为一个难题。

We concur with this medium-term outlook of disinflation, although CPI inflation in the coming months could remain above 5%.

虽然将来几个月消费者价格指数可能会保持在高于5%的水平，我们同意这个反通货膨胀（disinflation）的中期展望。

They are locked into competitive disinflation against Germany, the world's foremost exporter of very high-quality manufactures.

相对于全球高品质制品的头号出口国德国，这些国家受困于竞争性通胀减缓（competitive disinflation）之中。

The key question is whether the recent rise in inflation in Asia is cyclical or the first sign of reversal in the structural disinflation trend.

关键问题在于，近期亚洲通胀率的上升是周期性的，还是结构性的低通胀局面发生逆转的初期迹象？

That includes the high point, in 1980, when it hit 14%, and several periods of disinflation, when inflation hovered around 1% and prices remained steady.

其中包括1980年达到的最高点14%，之后就开始抑制通货膨胀的时期，在通胀率保持在1%的水平时，物价保持稳定。

Sometimes, these two important financial markets move up together, especially in an environment of general disinflation, when interest rates tend to decline.

有时候，这两个重要的金融市场一起移动，特别是在一般通货膨胀，当利率趋于下降的环境。

And it seemed to work, thanks to the long period of disinflation from 1982 onwards, which saw nominal bond yields fall sharply and share prices rise substantially.

而且，托1982年以来的长期低通胀的福，这个理论好像在发挥作用：债券名义利率陡降股价稳步上升。

Since July, as the US growth outlook slowed with a more intense fiscal drag, the Fed has signalled easier policy with quantitative easing proposed to stem steady disinflation.

7月以来，随着美国日益严重的财政拖累，预期的经济增速放缓，美联储表示采取更简易的定量宽松政策，以平稳遏止通货紧缩。