欧洲央行经济学家于周三表示，由于对化石燃料的依赖降低、财政支持力度加大以及人工智能投资热潮助力维持了增长，欧元区经济对今年能源冲击的抵御表现好于预期。
The euro zone economy has weathered this year's energy shock better than expected, with lower dependence on fossil fuels, stronger fiscal support and an AI investment boom helping sustain growth, European Central Bank economists said on Wednesday.
这一发表在欧洲央行博客上的评估，加剧了政策制定者之间日益激烈的辩论，即在全球经济经历一段相对疲弱的时期后，全球经济中的结构性变化是否正在推高增长、投资和利率。
The assessment, published in an ECB blog, adds to a growing debate among policymakers about whether structural changes in the global economy are raising growth, investment and interest rates after an era of relative weakness.
在伊朗战争扰乱能源市场并导致石油和天然气价格飙升之后，欧元区受到了冲击，这重新点燃了人们对通胀的担忧，并引发了全球债券抛售潮。但该货币联盟继续保持增长，商业调查显示扩张势头依然完好。
The euro area has been hit by a surge in oil and gas prices after the Iran war disrupted energy markets, rekindling inflation concerns and contributing to a global bond selloff. But the currency bloc has continued to grow and business surveys indicate expansion remains intact.
欧洲央行经济学家奥斯卡·阿尔塞（Oscar Arce）、格里特·科斯特（Gerrit Koester）和比阿特丽斯·皮尔卢吉（Beatrice Pierluigi）估计，目前该经济体对石油的依赖程度仅约为20世纪90年代初的一半，从而限制了能源价格冲击的影响。
ECB economists Oscar Arce, Gerrit Koester and Beatrice Pierluigi estimated that the economy is now only about half as reliant on oil as it was in the early 1990s, limiting the impact of energy price shocks.
在几个国家，可再生能源和核能发电量的增加也削弱了天然气价格与电力成本之间的联系。
Higher renewable and nuclear generation has also weakened the link between gas prices and electricity costs in several countries.
该博客称，与人工智能相关的贸易已成为欧元区的一个“重要顺风”，与技术相关的出口订单和与人工智能相关的行业表现优于其他领域。
The blog said AI-related trade had become an "important tailwind" for the euro area, with technology-related export orders and AI-linked sectors outperforming.
财政刺激力度达到占GDP的0.5%，是去年年底预期规模的两倍，这主要归功于德国政府在国防和基础设施方面的支出。
The fiscal impulse, at 0.5% of GDP, was twice the size expected at the end of last year, mainly thanks to German government spending on defence and infrastructure.
尽管如此，经济学家警告称，大部分支持可能是暂时的。全球需求、财政刺激和人工智能投资可能会消退，如果地缘政治紧张局势恶化或能源市场遭受新的破坏，该集团将面临风险。
Still, the economists warned that much of the support may prove temporary. Global demand, fiscal stimulus and AI investment could fade, leaving the bloc exposed if geopolitical tensions worsen or energy markets suffer fresh disruptions.
这些研究结果出炉之际，欧洲央行正在讨论进一步加息以遏制能源引发的通胀飙升，预计年内的第三次加息将在12月进行。
The findings come as the ECB debates more interest rate increases to stem an energy-led inflation surge, with the third hike of the year expected in December.