Soaring costs for fuel have depleted household savings and held back investment.

飙升的燃料成本耗尽了家庭储蓄，抑制了投资。

At the same time aging means that the household savings rates will go down, which will negatively impact on investment.

与此同时，老龄化意味着家庭储蓄率下降，对投资造成消极影响。

Worryingly, a growing share of household saving is bypassing the financial system altogether, seeking refuge from inflation in gold, bricks and mortar.

更头疼的是，越来越多的居民储蓄绕过所有的金融系统，通过黄金和房产躲避通货膨胀。

The healthy rate of Italian household saving underpinning this could be tapped by the government as an alternative to bond-market funding, which looks a lost cause.

意大利健康的家庭储蓄水平支持上述论点。政府可以利用家庭储蓄作为看上去注定失败的债券市场资金的替代手段。

That will translate into reductions in labor supply.At the same time aging means that the household savings rates will go down, which will negatively impact on investment.

这将转化为劳动力大幅减少。同时老龄化代表着居民储蓄率的下降，将会为投资造成负面影响。

Household savings as a proportion of GDP has fallen from 23.6% to 17.2%. Meanwhile, household debt has surged to 10.9% during the same period.

家庭储蓄占 GDP 的比例从 23. 6% 下降到 17. 2%。与此同时，同期家庭债务飙升至 10. 9%。

This has effects not only in the work place but in the world finance. The bond rating agency Moody's says the aging population will lead to a drop in household savings.

这不仅影响工作领域，还会影响全世界金融领域。债券评级机构穆迪表示，人口结构老化将导致家庭储蓄减少。

And just in terms of building savings, building wealth through savings, as you suggest, we really do need a more consistent, higher level of household savings to-to help build in those buffers into stronger balance sheets.

就建立储蓄而言，通过储蓄积累财富，正如你所建议的，我们确实需要更一致、更高水平的家庭储蓄，以帮助将这些缓冲建立在更强大的资产负债表中。

Edward Cole of Man Group, an asset manager, worries that tightness in the labour market and an excess of household savings—both leftovers from the pandemic—are delaying the pain of monetary tightening that will eventually be felt.

Man Group 的资产经理爱德华科尔担心，劳动力市场紧张和家庭储蓄过剩——都是大流行的遗留物——正在延迟最终将感受到的货币紧缩的痛苦。