Low levels of profitability mean there is a lack of incentive to undertake new investment.

利润率低意味新投资的动力。

Ms Valla argued, however, that by sticking largely to using policy instruments already in its armoury the ECB had forgone potentially far higher margins.

但瓦拉称，由于该行主要是坚持使用常规的政策具，放弃了有可高出很多的利润率。

Low levels of profitability mean there is a lack of incentive to undertake new investment.

利润率低意味着缺乏新投资动力。

Ms Valla argued, however, that by sticking largely to using policy instruments already in its armoury the ECB had forgone potentially far higher margins.

但瓦拉称，由于该行主要是坚持使用政策工具，放弃了有可高出很多利润率。

Low levels of profitability mean there is a lack of incentive to undertake new investment.

利润率低意味着缺乏新投资的动力。

Ms Valla argued, however, that by sticking largely to using policy instruments already in its armoury the ECB had forgone potentially far higher margins.

但瓦拉称，由于该行主要是坚常规的政策工具，放弃了有可高出很多的利润率。

Low levels of profitability mean there is a lack of incentive to undertake new investment.

利润率低意味着缺乏新投的动力。

Ms Valla argued, however, that by sticking largely to using policy instruments already in its armoury the ECB had forgone potentially far higher margins.

但瓦拉，该行主要是坚持使用常规的政策工具，放弃了有可高出很多的利润率。

Low levels of profitability mean there is a lack of incentive to undertake new investment.

利润率低意味着缺乏新投资的动力。

Ms Valla argued, however, that by sticking largely to using policy instruments already in its armoury the ECB had forgone potentially far higher margins.

但瓦拉称，由于该行坚持使用常规的政策工具，放弃了有可高出很多的利润率。

Low levels of profitability mean there is a lack of incentive to undertake new investment.

利润率低意味着缺乏新投资的。

Ms Valla argued, however, that by sticking largely to using policy instruments already in its armoury the ECB had forgone potentially far higher margins.

拉称，由于该行主要是坚持使用常规的政策工具，放弃了有可高出很多的利润率。

Low levels of profitability mean there is a lack of incentive to undertake new investment.

利润率低意味着缺乏新投资的动力。

Ms Valla argued, however, that by sticking largely to using policy instruments already in its armoury the ECB had forgone potentially far higher margins.

但瓦拉称，由于该行主要是坚持使用常规的政策工具，放弃了有很多的利润率。

Low levels of profitability mean there is a lack of incentive to undertake new investment.

利润率低意味着投资的动力。

Ms Valla argued, however, that by sticking largely to using policy instruments already in its armoury the ECB had forgone potentially far higher margins.

但瓦拉称，由于该行主要是坚持使用常规的政策工具，放弃了有可高出很多的利润率。

Low levels of profitability mean there is a lack of incentive to undertake new investment.

利润率低意味着缺乏新投资的动力。

Ms Valla argued, however, that by sticking largely to using policy instruments already in its armoury the ECB had forgone potentially far higher margins.

但瓦拉称，由于该行主要是坚持使用常规的政策工具，放弃了有可高出很多的利润率。