Mario and the ECB helped stabilize the European economy.

马里奥和欧洲央行帮助欧洲稳定了经济。

The ECB faces an unenviable dilemma.

欧洲央行面临着危险的两难境地。

The ECB has now hiked rates three times since July.

自 7 月以来，欧洲央行已经三次加息。

The problem is that the ECB risks crashing the plane.

问题是这样的话欧洲央行面临着让飞机坠毁的风险。

The ECB is wary of policies that help one economy more than others.

政策对经济体的帮助有偏颇，欧洲央行对于这种情况很谨慎。

The ECB rate has been 0.75%; firms have been paying around 3.5% to borrow.

欧洲央行额利率是0.75%，公司借款要付约3.5%。

And so the ECB feels it needs to be hawkish and raise interest rates.

因此，欧洲央行认为它需要采取鹰派立场，提高利率。

The ECB is expected to lift rates at its next meeting on September 8th.

预计欧洲央行将在9月8日的下一次会议上提高利率。

That's because the ECB has been struggling to boost prices.

那是因为欧洲央行一直在努力提高价格。

Thanks to the ECB, long-term bond yields have fallen back to pre-crisis levels.

多亏欧洲央行，长期债券利率已经跌回危机前的水平。

The ECB had suspended this requirement during the pandemic, but that reprieve has now ended.

欧洲央行在疫情期间曾暂停这一要求，但这一缓和措施现在已经结束。

But there is no one European government that issues bonds for the ECB to buy.

但是欧洲政府并没有发行欧洲央行可以购买的这类债券。

But the return of inflation to the ECB's 2% target remains some way off.

但要想通胀率重返欧洲央行制定的2%的目标，仍有一段路要走。

There are mechanisms for the ECB to try to lower bank-lending rates in the periphery.

ECB中存在相关机制，可以试着降低边缘国家的银行贷款利率。

At the ECB, a moderate like Finland's Olli Rehn would be better than Mr Weidmann.

在欧洲央行，像芬兰的奥利·雷恩这样的温和派会比魏德曼做得更好。

The ECB's cuts to three main interest rates it controls take effect on March 16.

欧洲央行下调的三大主要利率将于3月16日正式生效。

Right now, the ECB's key deposit rate is at half per cent below zero.

目前，欧洲央行的主要存款利率一直是负百分之零点五。

Inside the ECB council, the idea of sometimes using unorthodox monetary tools is no longer contested.

在欧洲央行执委会内部，偶尔使用非传统货币工具的观点不再受到质疑。

It's being driven by a sense in the ECB that there's a real inflation problem developing.

这是由欧洲央行的一种感觉推动的，即真正的通胀问题正在发展。

That would mean helping some countries more than others, something that makes the ECB uneasy.

如此一来，部分国家得到的帮助会多一些，如果出现这种情况，ECB会十分担忧。