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maintaining price stability prevents the considerable and arbitrary redistribution of wealth and income that arises in both inflationary and deflationary environments.
ohranjanje cenovne stabilnosti preprečuje obsežno in samovoljno prerazporejanje bogastva in dohodka, ki se pojavi tako v inflacijskem kot tudi v deflacijskem okolju.
in a deflationary environment, monetary policy may therefore not be able to sufficiently stimulate aggregate demand by using its interest rate instrument.
Čeprav je nekatere ukrepe denarne politike še vedno mogoče izvajati, tudi če so nominalne obrestne mere enake nič, je uspeh takšne alternativne politike negotov.
in octobersigns of abating deflationary pressures led some bank of japan policy board members to predicta slight increase in the cpi excluding fresh foodin the fiscal year 2005.
oktobraso na podlagi znakov umirjanja deflacijskihpritiskov nekateri člani odbora za politiko bankof japan napovedali povečanje cpi brez svežehrane v fiskalnem letu 2004.
the japanese economy is expected to continue on its current recovery path, with domestic demand benefiting from ongoing structural reform measures and the easing of deflationary pressures.
okrevanje japonskega gospodarstva se bo po pričakovanjih nadaljevalo, ukrepi potekajočih strukturnih reform in zmanjševanje deflacijskih pritiskov pa naj bi ugodno vplivali na domače povpraševanje.
maintaining social cohesion and stability: price stability prevents the considerable and arbitrary redistribution of wealth and income that arises in both inflationary and deflationary environments.
ohranjanje socialne povezanosti in stabilnosti: stabilnost cen preprečuje obsežno in naključno prerazporejanje bogastva in dohodka, ki se pojavi tako v inflacijskem kot tudi deflacijskem okolju.
based on this assessment, the governing council of the ecb decides on the level of shortterm interest rates to ensure that inflationary and deflationary pressures are counteracted and that price stability is maintained over the medium term.
na osnovi te ocene svet ecb določi raven kratkoročnih obrestnih mer, ki najučinkoviteje omejujejo inflacijske in deflacijske pritiske ter zagotavljajo cenovno stabilnost na srednji rok.
related to high unemployment and job instability, the rate of growth of nominal unit labour costs has continued to slow down in the euro area in 2013, increasing the risk of cost-push deflationary pressures that could damage prospects of a sustained recovery and the accompanying creation of jobs.
v povezavi z visoko stopnjo brezposelnosti in negotovostjo zaposlitve se je stopnja rasti nominalnih stroškov dela na enoto v območju evra v letu 2013 še naprej zniževala, s čimer se je povečala nevarnost deflacijskih pritiskov, ki bi lahko ogrozili možnosti za trajno okrevanje in s tem ustvarjanje delovnih mest.
4.8.1 the macroeconomic impact of such a considerable change in the distribution of wealth is deflationary; it increases global savings but, since workers' purchasing power has barely risen, their demand lacks dynamism and enterprises are not therefore encouraged to invest.
4.8.1 taka sprememba delitve premoženja ima deflacijski makroekonomski učinek: poveča se skupni prihranek, vendar pa povpraševanje delojemalcev ni dovolj dinamično, saj se njihova kupna moč skoraj ne poveča, to pa podjetij ne spodbuja k naložbam.