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Viewed from one perspective, the euro area is a minor miracle. Instead of collapsing in a heap, as seemed possible two years ago

admin2016-03-21  57
问题     Viewed from one perspective, the euro area is a minor miracle. Instead of collapsing in a heap, as seemed possible two years ago, the currency club is not just intact but has a new member, Latvia, which joined in January. An economic recovery has been under way since last spring and appears to be strengthening. But seen from another standpoint the euro zone is an accident waiting to happen. As inflation slips ever lower, a slide into Japanese-style deflation looks increasingly likely. That would raise an already heavy debt burden in real terms and pull down growth.
    The actions of the European Central Bank will be crucial if such an outcome is to be avoided. The ECB’s mission is to achieve price stability, and since 2003 it has interpreted this to mean an inflation rate over the medium term of "below but close to" 2%. Yet despite a fall in annual inflation to just 0. 5% in March, the central bank was expected to hold its fire when its council met on April 3rd. Previously, it had lowered the main policy rate to 0. 25% in November.
    One reason for the ECB to wait was that underlying inflation, excluding more unstable elements such as energy and food, has been broadly stable over the past six months, at around 0. 8%. The council also sees grounds for being patient and allowing its very low interest rates to take effect. It thinks that the recovery, which started in the second quarter of 2013 after a double-dip recession lasting a year and a half, should eventually bring inflation back towards the target.
    Indeed, the once-sickly euro zone is losing some of its pallor. The recovery, though feeble, has nonetheless been sustained. Output rose by 0. 3% in the second quarter of 2013, and although growth slowed to 0. 1% in the third, it picked up to 0. 2% in the fourth. More important, there are signs that the pace may be accelerating this year.
The main function of European Central Bank is to ______.
选项 A、keep prices stable
B、monitor other banks
C、oversee EU members
D、lend money to EU countries
答案A
解析 根据大写词European Central Bank定位到第二段，题干main function of EuropeanCentral Bank“欧洲中央银行的主要职能”=第二句的the ECB’s mission“欧洲中央银行的任务”，故下文的to achieve price stability为答案，该表述相当于选项[A]的keep prices stable，故本题答案为[A]。
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