Now these QE programmes are being kicked into reverse.

现在，这些量化宽松计划正在被逆转。

But the stigma is fading. Indeed some central banks now say they are doing QE even when they aren't.

这种污名正在消失。一些央行现在确实表示自己正在实施量化宽松政策，尽管他们并没有这么做。

The ECB is likely to hold off; it seems to consider QE as a weapon of last resort.

ECB的态度是尽可能延缓推出QE，在它看来，QE是最后的武器。

The Fed's decision to end QE reflects the view that the economy has regained some strength.

美联储决定结束量化宽松反映了这样一个观点，即经济已经恢复动力。

Yet his tactics are increasingly questioned. At least seven council members are reported to have objected to restarting QE.

但他的策略不断受到质疑。据称，至少7个委员会成员反对重启QE。

These " repo" operations amount to collateralised loans, not outright purchases. Few economists would describe them as QE.

这些“回购”操作相当于抵押贷款，而不是直接购买。很少有经济学家会将这种方式描述为QE。

That limited space is why some economists also expect the bank to restart QE later in the year.

这一有限的空间也是一些经济学家预计欧洲央行将在今年年末重启量化宽松的原因。

QE creates deposits: when the Fed buys a bond from an investment fund, a bank must intermediate the transaction.

量化宽松创造了存款：当美联储从投资基金购买债券时，银行必须为交易提供中介。

Critics nonetheless worry that QE is both more dangerous and less necessary in emerging markets than it is elsewhere.

尽管如此，批评者仍担心，与其它地区相比，QE在新兴市场更危险，也更没有必要。

However, this yield rise could be offset if the Bank buys more gilts in a further extension of QE.

但是，假如英格兰银行在更大规模的量化宽松政策中，购买更多的国债，所增加的收益又会被抵消。

Even the $1.3 trillion QE program might not be enough to change that, says Kathleen Brooks of foreign exchange bank Forex.com.

就职于外汇银行Forex.com的凯瑟琳·布鲁克斯说，即使是1.3万亿量化宽松项目也不足以改变现状。

After its first QE announcement in November 2008, the Fed launched two more rounds of easing.

在 2008 年 11 月首次宣布量化宽松政策后，美联储又推出了两轮宽松政策。

So the Fed launched a round of QE.

于是美联储推出了一轮QE。

When buying bonds during quantitative easing (qe), policymakers were unsure about the impact of their growing balance-sheets.

在量化宽松 (qe) 期间购买债券时，政策制定者不确定其不断增长的资产负债表的影响。

There’s evidence QE lowered interest rates, which helped ordinary people borrow cheaply for things like home mortgages.

有证据表明量化宽松政策降低了利率，这有助于普通人以低廉的价格借入房屋抵押贷款等。

Some of the most vocal critics feared QE would cause runaway prices, but inflation has stayed stubbornly low.

一些最直言不讳的批评者担心量化宽松政策会导致价格失控，但通货膨胀率一直保持在低位。

In some quarters QE is still a tainted term, associated either with mercantilism, as a weapon in a currency war, or monetary adventurism.

在某些领域，QE仍是一个有污点的术语，要么与重商主义（作为货币战争中的武器）有联系，要么与货币冒险主义有联系。

One of the most well-known things Bernanke's Fed did during the crisis was quantitative easing or QE.

伯南克领导下的美联储在危机期间所做的最著名的事情之一是量化宽松政策或 QE。

This ceiling would need to be lifted if any expansion of QE is to seem credible to investors, reckons Spyros Andreopoulos of BNP Paribas.

法国巴黎银行的Spyros Andreopoulos认为，要想让投资者信任QE扩张，就需要提高上限。

OK. So QE was a way to help with bringing up inflation. We obviously don't need that anymore. So what happens now?

好的。所以量化宽松是帮助提高通货膨胀的一种方式。我们显然不再需要它了。那么现在发生了什么？