英语翻译Much of the language used to describe monetary policy,su

英语翻译
Much of the language used to describe monetary policy,such as steering the economy to a soft landing or a touch on the brakes,makes itself sound like a precise science.Nothing could be further from the truth.The link between interest rates and inflation is uncertain.And there are long,variable lags before policy changes have any effect on the economy.Hence there is an analogy that likens the conduct of monetary policy to driving a car with a blackened windscreen,a cracked rearview mirror and a faulty steering wheel.
Given all these disadvantages,central bankers seem to have had much to boast about of late.Average inflation in the big seven industrial economies fell to a mere 2.3% last year,close to its lowest level in 30 years,before rising slightly to 2.5% this July.This is a long way below the double-digit rates which many countries experienced in the 1970s and early 1980s