This will be a discomforting, defining week for the global economy. That is not because the US Federal Reserve is set to cut interest rates. Rather it is because of the strikingly low level of rates from which the Fed will start: a range of just 2.25 to 2.5 per cent.
本周對全球經濟而言將是令人不安、但具有決定性意義的一周。這樣說并不是因為美聯儲(Fed)將會降息（編者注：美聯儲于周三宣布將主要利率下調25個基點），而是因為美聯儲降息的利率起點已經低得驚人：僅處于2.25%至2.5%之間。
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